New Delhi: Today, Prime Minister Narendra Modi will going to meet an important bilateral meeting with the Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in Bishkek, Kyrgyzstan. This meeting will going to takes place at a time when India-Russia relations are being presented with fresh opportunities and challenges particularly in the fields of trade, energy, defence and evolving scenario in West Asia.
During the meeting, the two leaders will discuss another enhancement of their strategic partnership that has been established over the years. One of the main issues is going to be trade. The relation between Russia and India has developed well with a trade imbalance mostly in favor of Russia as it imports much less than it exports. New Delhi is thus hoping to gain greater access for Indian products in the Russian market and to invite more investments from both sides.
Energy cooperation could get a major push
Another important factor is energy. Russia is a crucial supplier of crude oil, fertilisers and other energy products for India. However, the uncertainty in the West Asian crisis has added to the global energy market, and the reliable supplies from Russia are vital for India’s energy security. In recent months, Russia has assured India of continued supply of energy and fertilisers in spite of the disruptions in the region.
The two leaders are expected to also have talks on coming up with plans to strengthen cooperation in the nuclear field and other long-term energy projects. Nuclear and oil refining and energy infrastructure are also areas that have a high potential for cooperation between both countries.
Defence cooperation remains important
Expect another large discussion on defence to be played out. India and Russia have decades of cooperation in the defence sector, but now New Delhi is seeking more joint production, technology sharing and speedy delivery of military hardware. It is reported that orders for defence provision and existing contracts may feature in the meeting.
With India, more defence cooperation offers a significant and sure market for Russia. Cooperation with Russia helps India to ensure access to military technology, spare parts and essential defence systems and also contributes towards ensuring local production.
Ukraine and West Asia also likely on agenda
The changing geopolitical situation is also expected to feature in the talks. As a result of the conflicts in Ukraine and West Asia, energy prices and trade routes have been impacted, as well as other issues of global security. The need for the dialogue, stability and uninterrupted trade and energy supplies will expected to be discussed in India.
How will the partnership help both countries?
In India, better relations with Russia can help going to ensure energy security, defence, fertilisers and access to Russian markets. It can also help advance India’s strategic footing in the wake of rising global tensions.
Meanwhile, India is a significant and rapidly expanding market for India’s energy, defence, technology and other products. Moscow also has important ties to New Delhi, which help it in its quest for partners in Asia.
The Modi-Putin meeting is likely to be more than just a routine diplomatic trilateral discussion. It can facilitate both nations to make the partnership more equitable, boost trade and safeguard economic and strategic interests of both nations in the ever changing world.
