Vladimir Putin's India Visit
Vladimir Putin's visit to India marks significant milestones both historically and strategically. His first visit was in October 2000, when both nations faced challenges from Western sanctions and regional conflicts.
Context and Historical Background
- In 2000, India was under sanctions from the West due to the Pokhran-II nuclear tests, and Russia was recovering from the Soviet Union's collapse.
- The geopolitical landscape was dominated by the US in a unipolar world, and India-Pakistan tensions were high following the Kargil war.
Recent Developments
- In December 2023, Putin visits India amid ongoing Western sanctions on Russia following its invasion of Ukraine.
- India faces secondary sanctions and high tariffs from the US due to its continued engagement with Russia.
India-Russia Bilateral Relations
- India maintains a strong defense partnership with Russia, but has diversified its defense procurement.
- Approximately 60% of India's defense equipment is of Russian origin.
- India has purchased the S-400 air defense system, but delivery has been delayed due to the Ukraine conflict.
Economic Ties and Trade Challenges
- India began importing discounted oil from Russia post-Ukraine war, stabilizing domestic fuel prices.
- Bilateral trade reached a record $68.7 billion in FY 2024-25, with a trade imbalance due to high oil imports from Russia.
- The $100 billion trade target by 2030 faces challenges due to potential reductions in oil purchases following US and European sanctions.
Strategic Concerns and Future Prospects
- India aims to balance its ties with both the West (US and Europe) and with Russia for strategic reasons.
- Key areas of focus include defense purchases, labor mobility pacts, and negotiations with the Eurasian Economic Union.
- India is cautious about Russia's relationship with China, given the strategic challenge posed by Beijing along the India-China border.
Putin's visit involves high-level meetings, including a state banquet and discussions with Prime Minister. India seeks to maintain strong bilateral relations with Russia while also preserving its ties with Western nations.
