Putin’s visit must be used to realize the potential of India- Russia ties

News: Russian President Vladimir Putin is on one day visit to India.

What are the expectations from the summit?
India and Russia are expected to begin a 2+2 dialogue Involving defence and foreign ministers. Both countries are expected to sign a ten-year defence pact. and Mutual logistical support agreement for each other’s armed forces.

However, two factors have the potential of limiting cooperation. The first one is the continuing conflict between Kremlin and the West. The second is the absence of a thriving commercial relationship between India and Russia.

How do China and USA impact India Russian relations?
India is increasing its relationship with the USA. The continuing conflict between USA And Russia impacts India Russia relations. Example CAATSA imposition over S400 deal with Russia.
The hostility of the USA and China is driving China and Russia closer.

Russia and Chinese relations are getting stronger, particularly in defence cooperation and they have the alignment of views, particularly over Indo Pacific.

What is the status of economic relations between India and Russia?
India’s trade with Russia is around $10 billion. On the other hand, India’s trade with China and USA is around $100 billion. This shows that the economic aspect is lacking. Also, Russian businessmen prefer investing in Europe and China, Indian businessmen prefer investing in America and China.

What can be expected in future?
USA current administration is attempting to mend relations with Russia. In the Geneva summit, both counterparties (Biden and Putin) laid down a broad framework for engagement on wide-ranging issues.

Further, a Virtual summit is expected to discuss and reduce the tensions over Ukraine. Stable USA-Russia relations would be beneficial for the USA in understanding its stance against China.

What is the way forward for India and Russia?

Russia understands that India US relations are expected to grow in future. India understands that it has no veto over Sino Russian relations. So the best way forward for both countries has let down a path for economic and strategic cooperation and develop a better understanding of each other’s imperatives.

Source: This post is based on the article “Putin’s visit must be used to realize the potential of India- Russia ties” published in the Indian Express on 6th December 2021.