SS: At a time when India’s strategic ties with the Western world are growing, the economic relationship with Russia is seeing a phoenix-like resurgence. Bilateral trade rose to $65 billion in the last financial year from merely $12 billion just two years.
Talks are also on the anvil for bilateral investments, and a free trade agreement. The deepening of economic bonds has been the backdrop to Prime Minister Narendra Modi’s latest visit to Moscow. Western powers may be worried over this visible camaraderie between India and Russia, but there is an implicit acceptance that these longstanding ties are not getting derailed anytime soon.
InvertedParallax on
China: “Well this is awkward…”
ManOrangutan on
Ties between the two aren’t deepening. After this war Russia has a very bleak future beyond Putin’s lifespan (he’s 71) and it likely will break up or erupt into another civil war.
A more apt description is that India and China are trying to extract as much wealth, technology, and resources as they can from Russia before this happens. And it’s a smart bet that it will happen.
Nomad1900 on
Hopefully they sign a trade deal soon. India-Russia trade can easily reach $100 billion a year.
shadowfax12221 on
They’re taking advantage of Russian isolation in order to boost exports and acquire cheap energy, I see it as short to medium term opportunism more than anything else.
5 Comments
SS: At a time when India’s strategic ties with the Western world are growing, the economic relationship with Russia is seeing a phoenix-like resurgence. Bilateral trade rose to $65 billion in the last financial year from merely $12 billion just two years.
Talks are also on the anvil for bilateral investments, and a free trade agreement. The deepening of economic bonds has been the backdrop to Prime Minister Narendra Modi’s latest visit to Moscow. Western powers may be worried over this visible camaraderie between India and Russia, but there is an implicit acceptance that these longstanding ties are not getting derailed anytime soon.
China: “Well this is awkward…”
Ties between the two aren’t deepening. After this war Russia has a very bleak future beyond Putin’s lifespan (he’s 71) and it likely will break up or erupt into another civil war.
A more apt description is that India and China are trying to extract as much wealth, technology, and resources as they can from Russia before this happens. And it’s a smart bet that it will happen.
Hopefully they sign a trade deal soon. India-Russia trade can easily reach $100 billion a year.
They’re taking advantage of Russian isolation in order to boost exports and acquire cheap energy, I see it as short to medium term opportunism more than anything else.