Why it matters:
Russian President Vladimir Putin’s upcoming visit to India shows the deepening of the strategic partnership between Moscow and New Delhi across key sectors like energy, defense, technology, and multilateral diplomacy.
The big picture:
Russia is a key strategic partner for India. India benefits from access to discounted Russian crude oil, which has increased from less than 2 percent of India’s total imports before the Russian-Ukrainian war to over 40 percent in June 2024. Indian companies have also benefited from exporting refined Russian oil products, some of which have found their way into Western markets.
Flashback:
The two countries established diplomatic relations in April 1947, shortly before India gained independence. India was on a quest to achieve economic self-sufficiency, so the then-Soviet Union was an important partner in terms of providing support for the country’s heavy industry, with investment in mining, energy, and steel production. India’s economic planning model was also based on the Soviet five-year plan.
Key points:
- Areas of Cooperation: Trade, defense, technology, finance, healthcare, artificial intelligence, humanitarian issues
- Multilateral Platforms: Shanghai Cooperation Organization (SCO), BRICS
- India’s Stance: Independent decision-making in energy and trade; no need to justify Russian imports to the U.S.
- High-Level Exchanges: Russian Foreign Minister Sergey Lavrov also scheduled to visit India
Go deeper:
India-Russia ties and the heft of its history | Hindustan Times
Neda Sajjadi - Neda Sajjadi
