India and Russia Strengthen Bilateral Trade and Collaborate on Modern Weapon Production

The current global dynamics are pointing towards a world that is moving towards multipolarity, where meaningful bilateral relations between major powers are reaching unprecedented levels. One strong example of this trend is the flourishing Indo-Russian relations.

India’s Foreign Minister, Subrahmanyam Jaishankar, recently met with Russian President Vladimir Putin as part of a five-day visit to Russia. During their meeting, Putin expressed appreciation for the growing ties between the two nations, especially during tumultuous times. The Russian President also acknowledged Indian Prime Minister Narendra Modi’s neutral stance on the conflict in Ukraine, noting his desire to resolve the issue through peaceful means.

India’s increasing reliance on Russian oil exports has further solidified the bond between the two nations, with India and China jointly accounting for up to 90% of Russian oil exports. This makes New Delhi a crucial trade partner for Moscow.

During their meeting, Jaishankar also held discussions with his Russian counterpart, Sergey Lavrov, on the prospects for military-technical cooperation, including the joint production of advanced weaponry. The two ministers also lauded the record-high trade turnover between India and Russia, which exceeded $50 billion in 2022 and is expected to surpass that figure in the current year.

The talks also highlighted the progress being made in negotiations for joint production of military equipment, with both nations recognizing the strategic importance of such collaboration. Russia has expressed its support for India’s ambitions to diversify its military hardware suppliers and facilitate indigenous production of essential equipment.

In addition to the substantive discussions, President Putin extended an invitation to Prime Minister Modi to visit Russia for detailed discussions on various bilateral and geopolitical issues. Putin expressed his desire to delve deeper into Prime Minister Modi’s stance on complex global processes, including the situation in Ukraine, and to work towards peaceful resolutions.

As multipolarity continues to shape the global order, the growing Indo-Russian relations serve as a crucial example of the development of meaningful bilateral ties between major powers. The flourishing partnership between the two nations holds significant implications for regional and global dynamics and is likely to contribute to the evolving multipolar world order.

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