May 26, 2017

"India and Russia will once again try to fix a partnership that is badly in need of repair. It is often said that India and Russia share longstanding ties that are durable. The end of the Cold War hasn’t finished this relationship, but there are signs that this relationship needs some repair urgently. Indian Prime Minister Narendra Modi will be in Russia on June 1 for the annual India-Russia summit where he is expected to unveil, along with Russian President Vladimir Putin, an ambitious document to outline their agenda for economic cooperation in the coming decades. Earlier this month, the two nations have moved their relationship forward in a range of sectors, including civil nuclear cooperation, trade, and investments, during the meeting of India-Russia Inter-Governmental Commission on Trade, Economic and Cultural Cooperation (IRIGC-TEC), a key forum to address major issues concerning bilateral ties.

There is an urgent need to prioritize economic ties, which have been going downhill for some time. Though the two nations have set a target for their bilateral trade of $30 billion by 2025, it was a measly $7.8 billion in 2015. So there are now talks about targeting pharmaceuticals, agriculture, food processing, and energy as a new focus. The two nations are yet to conclude the General Framework Agreement (GFA) for units 5 and 6 of the Kudankulam nuclear plant and two deadlines have been missed since last year. The pact is now likely to be signed during the 18th annual India-Russia summit next month. The much delayed International North South Transport Corridor will also be fast tracked in a fresh attempt to give a boost to regional connectivity."

Read more:

http://thediplomat.com/2017/05/growing-distance-between-delhi-and-moscow/