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2 Comments
Submission Statement
In the wake of Russia’s invasion of Ukraine, economic ties between Russia and India have strengthened, despite Western criticism. Prime Minister Narendra Modi’s upcoming talks with President Vladimir Putin highlight India’s strategic neutrality and reliance on discounted Russian oil, coal, and fertilizers, which have significantly boosted bilateral trade. Historically strong defense ties add complexity, as India balances relationships with both Russia and the West. While new defense deals may be limited, opportunities in manufacturing and infrastructure projects, such as the International North-South Transport Corridor and the Chennai-Vladivostok maritime corridor, could enhance cooperation between the two nations.
Likely yes. Russian oil bought by india. Indian payments to Russia remain in India. Russian dues converted into equity and assets of Indian companies. This gives liquid returns to Russia. Indian firms will not likely invest too much in Russia…they will supplant the Western suppliers for consumer goods.