July 8, 2024
India has become a crucial trading partner for Russia, especially after Western sanctions limited Russia's export markets
India remains heavily reliant on Russian military equipment, with 60% of its arsenal originating from Russia
India has maintained a neutral position on the Ukraine war, avoiding condemnation of Russia while calling for peaceful negotiations
A key focus of the talks will be on enhancing trade relations, including the development of a maritime corridor between Chennai and Vladivostok
Prime Minister Narendra Modi’s visit to Russia comes at a critical juncture, with the ongoing Ukraine conflict reshaping international alliances. During his meeting with President Vladimir Putin, Modi aims to reinforce the historic ties between the two nations, focusing on trade and defence cooperation. The visit highlights the significant increase in India-Russia trade, particularly in energy, and the strategic importance of maintaining robust defence ties despite the complications arising from the Ukraine war.
India’s neutral stance on the Ukraine conflict is a strategic move, allowing it to navigate a balanced foreign policy. This approach aims to mediate peacefully while safeguarding its national interests. However, the growing partnership between Russia and China challenges India’s strategic positioning, making Modi’s visit crucial for addressing these concerns.
During Modi’s visit, the discussions will include significant efforts to correct the trade imbalance with Russia. The goal is to enhance India’s exports to match the import surge. The proposed maritime corridor between Chennai and Vladivostok represents a significant step in boosting trade connectivity and economic collaboration.
Source: Economic Times