India's Prime Minister Narendra Modi arrived in Moscow for a two-day visit, marking his first trip since Russia's military intervention in Ukraine. The visit comes at a time when the relationship between the two countries has faced challenges, with Russia drawing closer to India's rival, China.
Modi's agenda includes a dinner meeting with Russian President Vladimir Putin, followed by talks at the Kremlin. The leaders last met in 2019 in Vladivostok and later in Uzbekistan in 2022. Despite the strained ties, India has refrained from condemning Russia's actions in Ukraine, emphasizing the need for a peaceful resolution.
Historically, Russia and India have shared strong ties dating back to the Cold War era. India's significance as a key trading partner has grown, particularly in the energy sector, with over 40% of India's oil imports now coming from Russia.
While India has maintained its defense cooperation with Russia, it has also diversified its procurement sources, engaging with countries like the U.S., Israel, France, and Italy. The two nations are expected to focus on defense cooperation during Modi's visit, with ongoing discussions on a military logistics agreement.
Trade development is a key aspect of the talks, with plans to establish a maritime corridor between Chennai and Vladivostok. Bilateral trade between India and Russia has seen a significant increase, reaching close to $65 billion in the 2023-24 financial year.
India aims to address the trade imbalance by boosting its exports to Russia, focusing on products like drugs, telecom instruments, iron, steel, and marine products. On the other hand, India's imports from Russia include crude oil, coal, pearls, and precious stones.
The visit holds strategic importance for both countries, as they navigate evolving geopolitical dynamics and seek to strengthen their longstanding partnership amidst global uncertainties.
