India And Russia Need To Diversify Their Economic Relationship But Structural Constraints Remain


India And Russia Need To Diversify Their Economic Relationship But Structural Constraints Remain

President Putin has just concluded another successful Summit meeting with PM Narendra Modi from 4-5 October in New Delhi. Despite the threat of CAATSA sanctions by the USA, the two sides went ahead and inked the agreement for the purchase of 5 sets of batteries of S-400 missile defence systems.

As a matter of fact, Indo Russian relations are nowadays seen mainly from the prism of a buyer seller relationship in the defence field. The fact that the two sides have also made all round progress in other areas over the years is normally forgotten or overlooked, due to the military and defence relationship which overshadows all other exchanges. This Summit also saw 8 non-defence agreements being signed. These include an MOU between ISRO and ROSCOSMOS for joint activities in the field of human spaceflight programme being under taken by India, an MOU between the railways for collaboration, and yet another one by the Indian Railways with the Russian ministry of economy for transport education, an MOU between small scale industries, cooperation in fertilizers,cooperation between NITI Ayog and Ministry of Economic Development of Russia and a Protocol for Consultations between he two foreign ministries between 2019 and 2023. Read more

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