Beyond Defense and Energy: The Future of India-Russia Partnership

By:  Divyanshu Jindal

Russia-Ukraine war reshapes India-Russia partnership from defense to discounted oil trade, but future beyond it remains uncertain.

Russia becomes India's 5th largest trading partner, surpassing $30B/year target, with a new goal of $50B/year.

Moscow seeks to strengthen trade ties with New Delhi to reduce dependence on China and attract foreign investment.

India and Russia address trade deficit, market access issues, and emphasize the need for increased engagement.

Moscow seeks hi-tech partnership with New Delhi to offset Chinese technology influx and shrinking markets for Russian tech.

Indo-Russian Business Forum highlights Russian firms in biometrics, AR/VR, edtech, biocomponents, data systems, and cloud solutions.

India's tech industry to grow at 8.4% in 2023 as multinationals shift from China, benefiting Russia amidst war's impact.

Moscow adopts "Shift East" policy, simplifies visa regime, and strengthens trade partnerships with Asian countries like India.