India-Russia Strategic Partnership

The India-Russia relationship, marking 25 years of strategic partnership and annual summits, was highlighted by President Vladimir Putin's visit to Delhi. This visit was significant as it was Mr. Putin's first to India since Russia's 2022 invasion of Ukraine, which isolated Moscow from the West.

Significance of Putin's Visit

• Prime Minister's decision to personally receive Mr. Putin and accord him a state visit sends a message of continued friendship despite Western isolation efforts.
• India, while advocating for peace, refrains from criticizing Russia for the Ukraine war.
• Facing geopolitical pressures, including sanctions on Russian and Indian oil companies and U.S. tariffs, India seeks alternative economic engagements with Russia.

Economic and Strategic Initiatives

• Discussion highlighted a labor mobility agreement, an MoU for a urea plant in Russia, and an economic roadmap encouraging trade and connectivity via maritime corridors.
• Efforts to establish a national currency payment system are aimed at circumventing sanctions.
• No announcements were made regarding defense hardware, nuclear power, or space cooperation to avoid sensitive strategic issues.

Challenges and Considerations

• Lack of plans to increase oil imports from Russia could complicate achieving the $100 billion bilateral trade target by 2030.
• The omission of strategic agreements reflects India's awareness of Western concerns and its ongoing negotiations with the U.S. and EU on trade agreements.
• India is striving to balance relations with partners having opposing interests while maintaining strategic autonomy.