In February 2022, Putin began his special ops in East Ukraine in a bid to make the Donbas region free of Ukranian Neo Nazis. The attack led to immediate pushback from the American led west coalition and they tried the strongest missile in their arsenal – the economic sanctions missile. In 2014, when Russia had annexed Crimea, US effectively crippled Russian economy with Economic sanctions. They had decided to use Sanctions with the same effect this time as well but the world had changed in the last 8 years. In India, Prime Minister Narendra Modi was in his second term with a full majority government. He decided to shield Putin. And it was super effective. India with its large fuel and gas consuming economy eased the blow. At a time when China was under Economic duress, India was and still is rising high with his burgeoning economy, adding a trillion dollars to its economy every 4 years.
Biden threatened India. Boris Johnson threatened India. Trudeau is still throwing tantrums. But India stayed firm. And now it has taken things to a whole new level.
India and Russia have achieved a groundbreaking milestone in their economic partnership, with trade between the two nations surpassing an impressive $50 billion. This remarkable feat represents a substantial surge, showcasing an astronomical increase when compared to previous years. Despite geopolitical challenges and opposition from the United States, India and Russia have forged deeper economic ties.
For instance, defense collaborations, including the production of India-Russia joint Brahmos missiles to the purchase of Russian-made military equipment, have contributed significantly to this escalation in trade. Additionally, the energy sector has played a pivotal role, with India purchasing Russian oil and gas in huge quantities . This record-breaking trade not only underscores the resilience of the India-Russia partnership but also signals a shift in global economic dynamics.
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From a shared podium in Moscow, Indian Foreign Minister Subrahmanyam Jaishankar emphasized the enduring strength of the Special and Privileged Strategic Partnership between India and Russia. Underlining this diplomatic commitment, bilateral trade has seen substantial growth, with prospects of reaching $100 billion in the near future.
To illustrate, security alliances have flourished, with India procuring advanced military technology from Russia. This not only enhances India’s defense capabilities but also strengthens economic bonds. Furthermore, the signing of agreements in areas like energy, technology, and culture has paved the way for multifaceted cooperation. The optimistic projection of a $100 billion trade volume underscores the robustness of this strategic partnership, marking a significant geopolitical development and reinforcing the resilience of Indo-Russian relations.
The historical perspective of India-Russia relations reflects enduring stability and growth, spanning several decades. Rooted in shared values, these relations have transcended geopolitical shifts, demonstrating extraordinary diplomatic courage. People-to-people connections have played a pivotal role, nurturing cultural connections beyond political factors.
Read More: How Russia, China and India conquered America’s backyard
In international forums like BRICS, India took a decisive leadership, and it was, largely thanks to PM Modi’s vision and larger than life persona that BRICS saw the admission of huge oil-based economies like the UAE and Saudi Arabia. It was India that effectively started the DeDollarization movement globally which has now found takers all across Latin America and Africa.
The current juncture signifies a critical point in the bilateral relations between India and Russia, as both nations explore future plans, including negotiations on a free trade agreement with the Eurasian Economic Union (EAEU). This potential agreement holds substantial financial consequences, promising increased trade and collaboration between the two regions.
The significance of Indian Foreign Minister Subrahmanyam Jaishankar’s recent visit to Moscow cannot be overstated. His meetings with Russian counterparts have laid the groundwork for enhanced cooperation across various sectors. In addition to economic discussions, diplomatic dialogues during Jaishankar’s visit have addressed regional and global challenges, reinforcing the strategic nature of the relationship.
As negotiations progress and agreements take shape, this moment stands out as a key milestone, symbolizing the commitment of both nations to deepen their bilateral ties and create a framework for sustained synergy in the years to come.
India and Russia have fortified their defense cooperation with the “Agreement on Military Technical Cooperation Program” spanning 2021-2031. This agreement signifies a commitment to joint production initiatives, fostering self-reliance in defense capabilities. Collaborative efforts include the production of T-90 tanks, Su-30 MKI fighter jets, AK-203 rifles, and BrahMos missiles.
Russia’s pivotal role as India’s largest arms supplier underscores the depth of their defense partnership. Joint production not only enhances India’s self-sufficiency in defense but also strengthens the strategic alliance between the two nations. The synergy in military technology exemplifies the enduring nature of their collaboration, providing India with advanced weaponry and technology.
New Delhi’s diplomatic stance remains resilient as it seeks to strengthen ties with Russia, demonstrating a commitment to deepening trade relations despite Western pressure and sanctions. India’s strategic autonomy is evident in its ability to navigate evolving dynamics, showcasing a nuanced approach to international relations. Washington’s shifting understanding of India-Russia relations recognizes the historical context that has shaped this partnership.
Amid global political challenges, India’s pursuit of strengthened ties with Russia is underscored by historical precedents, where past actions of the West influence current diplomatic strategies. Despite external pressures, both nations have sought to diversify and intensify their economic alliance. This diplomatic balancing act exemplifies India’s determination to establish independent foreign policies, ensuring the longevity and resilience of its multifaceted relationship with Russia in the face of international sanctions.
Indian Foreign Minister Subrahmanyam Jaishankar’s recent visit to Moscow holds the promise of anticipated outcomes, signaling potential shifts in the trajectory of India-Russia relations. While the defense coalition has historically been a cornerstone, there is a notable pivot towards emphasizing energy trade. Russia, being a major oil supplier, holds a key position in meeting India’s growing energy demands, diversifying the bilateral economic partnership.
Biden is of course unhappy about Prime Minister Modi openly flouting his diktat and saving Russia from American Sanctions. And he reacted very strongly by deciding not to attend India’s Republic Day as the chief guest. Funny, how limited options the US has against India.