The External Affairs minister of India recently visited Russia for a bilateral meeting, where the two countries signed agreements concerning nuclear power, medicines, pharmaceutical substances, and medical devices. The key focus of this meeting was to bolster economic collaboration, particularly in the fields of defense, space exploration, nuclear energy, and technology sharing.
Economic Collaboration and Nuclear Power Agreements
Both countries pledged to expand exports of Russian hydrocarbons to the Indian market and further their cooperation in the peaceful use of nuclear energy. They also finalized a program of cooperation in Russia’s Far East region and agreed to hold an early meeting of EaEU-India Free Trade Agreement negotiations.
India and Russia proceeded to sign agreements concerning the future units of the Kudankulam nuclear power project located in Tamil Nadu, India. Already housing two operational Russian-built nuclear plants, with another four under construction, the Kudankulam project is India’s largest nuclear power plant.
Diplomatic Initiatives and the Indo-Russia Relationship
The bilateral meeting also encompassed discussions on multilateral forums and international organizations where both India and Russia share common interests. These forums include BRICS, SCO (Shanghai Cooperation Organization), and UN affairs.
Historically, India and the erstwhile Soviet Union enjoyed a strong strategic, military, economic, and diplomatic relationship during the Cold War. Even after the dissolution of the Soviet Union, Russia continued to maintain a special strategic relationship with India. However, there has been a decline in relations in recent years due to geopolitical issues arising from Russia’s close ties with China and Pakistan.
Political and Trade Relations
Two inter-governmental commissions meet annually – one focused on trade, economic, scientific, technological, and cultural cooperation (IRIGC-TEC), and the other on military-technical cooperation (IRIGC-MTC). According to the latest statistics, India’s total bilateral trade with Russia stood at approximately USD 13 billion in 2021-22 and USD 8.14 billion in 2020-21. This makes Russia India’s seventh biggest trading partner.
Defence and Security Relations
Both countries regularly conduct a tri-services exercise known as ‘INDRA’. The joint military programs between India and Russia include the BrahMos cruise missile program, 5th generation fighter jet program, Sukhoi Su-30MKI program amongst others. India has also purchased or leased military hardware from Russia, such as the S-400 Triumf, Kamov Ka-226, T-90S Bhishma, and INS Vikramaditya aircraft carrier program.
Science and Technology Cooperation
Science and technology also play a significant role in the bilateral relations between India and Russia. The two nations work closely in basic sciences, materials science, mathematics, and cutting-edge areas like India’s manned spaceflight program (Gaganyaan), nanotechnologies, and quantum computing.
The Significance of Russia for India
India looks towards Russia to help balance the geopolitical power dynamics with China, especially after Chinese aggression in the border areas of eastern Ladakh. New sectors of economic engagement are also likely to emerge — mining, agro-industrial, and high technology, including robotics, nanotech, and biotech.
India and Russia are currently working together to address issues relating to Afghanistan and are calling for early finalization of the Comprehensive Convention on International Terrorism. Russia also supports India’s candidacy for permanent membership of a reformed United Nations Security Council and of the Nuclear Suppliers Group.
Way Forward
Although the share of arms imports to India from Russia fell from 64% to 45% between 2013-17 and 2018-22, Russia is expected to remain a key defense partner for India. The two countries are exploring how they can cooperate in turning India into a production base for exporting Russian-origin equipment and services to third countries. To facilitate this, Russia has enacted legislative changes, allowing its companies to set up joint ventures in India, following an Inter-Governmental Agreement signed in 2019. This agreement needs to be implemented in a time-bound manner.
