Prime Minister Narendra Modi on his
first bilateral visit to Russia in his second tenure infused new energy into Indo-Russian
longstanding partnership. Expanding the scope of ties which have been largely
directional and centred on defence cooperation both leaders explored various
avenues to strengthen the partnership. After the formal consolidation of the
strategic partnership between the countries in 2000 both countries regularly
held annual summit meets. Giving fillip to the longstanding ties, in 2010 countries
elevated partnership to “Special and Privileged Strategic Partnership”.
Economic sanctions imposed by the
West post Crimean annexation badly crippled Russian economy. Since 2014 Russia
economy is in doldrums. Keen on pulling the nation out of the economic
stagnation, Russia has turned its focus towards developing the Far East, a
resource-region, double the size of India. The region has become a
quintessential part of Putin’s Pivot to Asia strategy. To steer its
development, Russia invited investments from 17 countries. Underscoring the
importance of the region, President Vladimir Putin hosted 20th
Indo-Russian Annual Summit Meet at Vladivostok.
After receiving Modi at
Vladivostok, both leaders spent quality time together in a boat on their way to
Zvezda Ship Building Complex. As a special gesture, Putin accompanied Modi to
Ship building complex and showed him the most sophisticated ice breakers used
in Arctic explorations and oil tankers that deliver hydrocarbons to India. With
economic cooperation high on the agenda of bilateral talks, a 50-member
delegation of Indian businessmen also travelled to Far East.
Since independence, India heavily
depended on Russian defence purchases. Nearly 70% of Indian military hardware
is of Russian origin. Russia has been India’s top most defence supplier for
decades. Converting the buyer-seller relationship to co-production countries
have strengthened defence cooperation. But India’s diversification of defence
purchases and the volatile geopolitics created wrinkles in partnership. While
India drifted towards the US ratcheting up economic and defence cooperation,
Russia eventually got drawn into Chinese orbit and began eyeing Pakistani
markets for defence exports. Western sanctions on Russia and its burgeoning
economic reliance on Beijing further created some kinks in the partnership.
Amidst turbulent geopolitical realignments, India asserting strategic autonomy
made every attempt to strengthen ties with its old strategic partner.
Reaffirming its trust, with Damocles Sword of the US sanctions hanging, India
sealed an agreement for the purchase of Russia’s S-400 Triumpf Missile System
last year. Defence cooperation has been central pillar of Indo-Russian
partnership. To fortify strategic partnership, leaders focussed on “reaching
new heights of cooperation through trust and partnership” at the 20th
Indo-Russian Annual summit.
After reviewing the progress of the
bilateral talks during the delegation level talks leaders prioritised strong
and multifaceted trade cooperation to expand the range of Indo-Russian ties.
Stressing on the need for increasing the bilateral trade which hovered around
$11 billion, they set an ambitious target of $30 billion for 2025. Thus far,
Indo-Russian trade and investment has been between government entities. In a
marked departure from the past to boost investments, governments began
encouraging the participation and collaboration between private companies.
India invited Russian companies to be part of “Make in India” initiative and
Russia is encouraging Indian investments in the Far East region. To facilitate
seamless trade countries are working towards streamlining and standardising
various procedures. Leaders proposed trading agreement between India and
Eurasian Economic Union (EAEU) and began holding annual strategic economic
dialogues.
Post 2014 Russia carried three
quarters of trade in Rouble and in line with its sentiments, both countries
agreed to promote mutual settlements in national currencies. To foster India’s
investments Russia has recently opened Far East Investment and Export Agency in
Mumbai. Further to this initiative, Moscow welcomed a delegation of Indian
Chief Ministers to explore various avenues of cooperation. China holds a sway
in the Far East region and an uncomfortable Russia is looking towards India to
supply skilled manpower. Russia is
largest producer of diamonds and India’s diamond cutting companies which moved
to Far East are working in tandem enhancing its marketability. Having overcome
the tyranny of distance, both countries stand benefited. By creating investor
friendly atmosphere Russia is attracting private investors to the region.
Taking a call, Indian Coal mining companies began operations in Far East. In a
bid to mainstream Far East in 2017, Russia held joint exercise with India at
Vladivostok.
Boosting cooperation in energy
sector, countries agreed on geological exploration including Arctic region and
joint development of oil fields in India and Russia. To this end, countries
signed a road map for cooperation in hydrocarbons for five years and explored
the possibility of transporting LNG through the Northern Sea Route and oil
pipelines.
Connectivity has been another
bottle neck in Indo-Russian trade. Aside, expanding direct passenger and cargo
flights, countries decided to use Vladivostok to Chennai sea route to cut down
time of travel to 24 days from 40 days. This route will potentially bring much
needed peace and balance to the South China Sea region. Strengthening the
five-decade long space cooperation, Russian Space Agency Roscosmos, offered to
train four Indian Astronauts for India’s first Manned Mission- Gaganyaan for
fifteen months.
Another important facet of
Indo-Russian strategic partnership is military cooperation. India will be part
of Russia’s multinational military exercises Tsentr, in mid-September. Besides,
Central Asian countries and China, some reports hinted at Pakistan’s
participation. Despite the ongoing hostilities with Pakistan underlining strong
military links with Russia, India will take part in joint drills. Upgrading
defence cooperation countries agreed to co-produce the military spares for
Russian origin weaponry under the Make in India initiative. In all, countries
exchanged 14 MoUs in the areas of space cooperation, trade and investments,
coproduction of military equipment, road transport, maritime connectivity,
infrastructure, hydrocarbon cooperation and others.
In an oblique reference to
Pakistan, Modi asserted that India and Russia are against any external
interference in internal matters of member countries. Both countries stressed
the primacy of international law, need for multilateralism and condemned
terrorism in all forms and manifestation. Leaders called for an Afghan-led and
Afghan-owned reconciliation and extended support to efforts for complete
restoration of peace in Afghanistan.
Given the looming geopolitical
uncertainties, development of entire gamut of India- Russian ties is a top
priority of foreign policies of both countries. Keen on expanding scope of
cooperation, leaders have explored every possible avenue to cultivate ties and
increase engagement.
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