Since the signing of the “Declaration on the India-Russia Strategic Partnership” in October 2000, India-Russia ties evolved with enhanced levels of cooperation in areas, including political, security, defence, trade and economy, science & technology, culture, and P2P ties.
Multi-faceted India-Russia Diplomatic ties
- Strategic Partnership framework: The bilateral relationship was elevated to ‘Special and Privileged Strategic Partnership’ in 2010 signifying a deeper level of trust and collaboration.
- Institutional Dialogue mechanism: Annual Summit level dialogue; 2+2 Dialogue between Foreign and Defence Ministers of two nations; India-Russia Intergovernmental Commission for cooperation on Trade, Economy, Science & Technology, and Culture, and Technical cooperation between Militaries of the two nations.
- Trade and Economic cooperation
- Bilateral trade reached a record high of USD 68.7 billion in FY 2024-25.
- Major Indian Exports: Pharmaceuticals, organic and inorganic chemicals, iron & steel, and marine products.
- Major Russian Exports: Oil and petroleum products, vegetable oil (sunflower oil), fertilizers, coking coal, and precious stones and metals.
- Bilateral trade reached a record high of USD 68.7 billion in FY 2024-25.
- Defence and Security cooperation: Cooperation has shifted from a buyer-seller framework to one involving joint research, development, and production of advanced defence technologies. E.g., Joint development of BrahMos Cruise Missiles.
- Multilateral cooperation: Both the nations cooperate closely at forums including UN, G20, BRICS, SCO, among others.
