The Russian president\u2019s visit to Delhi comes amid fervent diplomatic activity spurred by sanctions and tariffs<\/p>\n
Russian President Vladimir Putin arrives in New Delhi on December 4 for his tenth visit to the South Asian country against a backdrop of the Ukraine conflict and a tariff and sanctions regime unleashed on the traditional allies by the West.
\nPutin\u2019s first visit to India since 2021 comes as the South Asian nation seeks to diversify its trade ties following a 50% tariff imposed on it by President Donald Trump, half of which is said by the US to be a punitive measure for purchases of Russian oil.
\nImposing the 50% tariff on India, including a 25% levy for Russian oil imports, Trump claimed it helps \u201cfunding\u201d for the Ukraine conflict. India has maintained that its oil purchases are solely based on national interests. The US and the EU have also slapped sanctions on Russian oil companies.\u00a0
\nThe narrative of Putin\u2019s visit to India is widely expected to focus on defense cooperation, space collaboration, economic ties, and a $100 billion trade target.
\nDefense cooperation
\nJoint production of Sukhoi Su-57 will be on top of the agenda. Deeper military cooperation and technology transfers for air, naval, and missile platforms are also expected to figure in the talks.
\nRussia\u2019s lower house of parliament, the State Duma, on Monday ratified an agreement on military cooperation. The treaty, which is aimed at streamlining bilateral armed forces drills, rescue and humanitarian efforts, will allow Russia and India to legally deploy troops and equipment to each other\u2019s soil.
\nIndia has always been a traditional ally of Russia, and defense cooperation has been a firm pillar of the strategic ties between the two nations. New Delhi has encouraged defense firms from friendly countries, including Russia, to work with domestic manufacturers in sync with the administration\u2019s \u2018Make in India\u2019 initiative. In this context, Russian state weapons exporter Rosoboronexport reportedly made a presentation about its functional capabilities to Indian media at the Dubai Airshow.
\nRussia\u2019s Ambassador to India, Denis Alipov has acknowledged the talks for joint production of the fifth-generation Sukhoi Su-57.
\nSpace collaboration
\nRussia\u2019s collaboration with India will also include engine building, rocket fuel, piloted spaceflight, and the development of national orbital stations, the head of the Russian space agency, Roscosmos, said.
\n New Delhi and Moscow have partnered in the space sector since the early 1960s.In 1984, Rakesh Sharma became the first Indian to travel to space aboard a Soviet Soyuz spacecraft. Russia is also working with India on its upcoming human spaceflight mission, Gaganyaan.<\/p>\n
READ MORE: Russia and India will cooperate on a wide front in space \u2013 Russian cosmonaut<\/p>\n
Economic ties and de-dollarizing
\nTwo days before his visit, Putin announced that Russia is seeking to expand its economic ties with India.
\nBoth countries are keen to link their national payment systems. Moscow is hopeful that they can agree on the mutual recognition of the Mir and RuPay systems. The next step is to pair SBP [Russia\u2019s Faster Payments System] and UPI [India\u2019s United Payments Interface].
\nBoth countries have stepped up the use of the rupee and ruble for trade settlements, with 90% being made in national currencies.
\n\u201dWhatever can be shared with India, will be shared,\u201d Kremlin spokesman Dmitry Peskov said in a briefing ahead of Putin\u2019s visit.
\nFacilitating trade
\nThe visit would also promote a platform to facilitate cooperation between private companies. The India-Russia Inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation will also take place amid the Putin-Modi summit.
\nThe forum will explore ways to expand and diversify bilateral trade, including boosting Indian exports of equipment, raw materials, and food products to Russia.
\nThe countries aim to boost bilateral trade to $100 billion by 2030. Indian imports to Russia are currently estimated at $5 billion, while its imports are worth $64 billion.\u00a0
\nRussia is expected to address the growing trade imbalance during the trip after he mentioned at the plenary session of the Valdai discussion club that he had instructed his government to explore ways to fix the imbalance.
\nDiplomatic overtures
\nThe distinctive personal warmth between Putin and Modi should not be discountted. The two last met at the Shanghai Cooperation Organization (SCO) summit in the Chinese city of Tianjin in September. Putin’s visit also signals a return to the tradition of annual high-level summits.
\nRussian Deputy Prime Minister Denis Manturov has said both sides have thoroughly prepared the agenda for the visit, signalling the importance attached to the ties between the two countries.\u00a0
\nIndia recently inaugurated two consulates in the cities of Kazan and Ekaterinburg, indicating the growing diplomatic cooperation between the nations.
\nThe Kremlin is also deeply appreciative of India\u2019s stance in the Urkraine conflict. Spokesman Dmitry Peskov has lauded India\u2019s willingness to listen to Moscow\u2019s position on the conflict in Ukraine.\u00a0
\nWhat the visit means
\nThis is Putin\u2019s first visit to India since the Ukraine conflict escalated in 2022. The trip comes against the backdrop of US sanctions on Russian oil companies and punitive tariffs levied on India for purchases of oil. India\u2019s exports to the US have fallen, though it is still the country\u2019s largest export market. India is negotiating a trade treaty with the US to lower tariffs, while Moscow has pledged to correct trade imbalances. India and Russia will need to tread a fine diplomatic line while negotiating to boost trade, military, and economic ties between the countries.<\/p>\n","protected":false},"excerpt":{"rendered":"
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