Home World Vladimir Putin, the President of Russia, Hails India’s Economic and Investment Relations

Vladimir Putin, the President of Russia, Hails India’s Economic and Investment Relations

According to Russian President Vladimir Putin on Friday, a decree approving the Russian Federation’s new foreign policy framework was signed. The revised national foreign policy idea was given the go by the President who also praised relations with India. He declared the expansion of India-related commercial, investment, and technology connections. 

India had found itself in a precarious diplomatic situation throughout the Ukraine-Russia conflict, steadfastly maintaining relations with both Moscow and its friends in the West as well as Kyiv. The two nations had recently celebrated 75 years of diplomatic ties and had continued their strong strategic, military, and economic interaction. President Vladimir Putin has selected China and India as its primary allies on the international stage in this new foreign policy strategy that was announced on 31st March. The declaration was made only a few days after Chinese Prime Minister Xi Jinping visited Russia to strengthen the “no limits” alliance that had been proclaimed the previous year.

Russia will continue to forge a uniquely favorable strategic partnership with the Republic of India in order to deepen and broaden cooperation in all sectors on a mutually advantageous basis. Russia will place special emphasis on boosting bilateral trade, bolstering investment and technological ties, and ensuring their resistance to the divisive actions of unfriendly states and their alliances.

Russia intends to establish an all-encompassing “especially privileged strategic cooperation” with India. Despite various situations happening since last year, relations between India and Russia remained solid. India has increased its imports of Russian crude oil during the past few months. Russia has been India’s main source of weaponry, providing close to 50% of the country’s total arms imports between 2016 and 2020.

Strengthening strategic cooperation and expanding economic and other links with India, is one of Russia’s main areas in Eurasia, according to the revised Concept of Foreign Policy. The entirety of Europe and Asia make up the largest continent on Earth, which is known as Eurasia. Russian support for the Shanghai Cooperation Organization (SCO), Commonwealth of Independent States (CIS), BRICS (Brazil, Russia, India, China, and South Africa), Collective Security Treaty Organization (CSTO), Eurasian Economic Union (EAEU), and RIC (Russia, India, China) was also stated in the concept.

According to the document, the Russian Federation intends to prioritize strengthening the capacity and increasing the international role of the interstate associations of BRICS, SCO, CIS, the EAEU, the CSTO, the RIC, and other international organizations as well as mechanisms with significant Russian participation, according to the document. As a result, the world order will be better able to reflect the reality of a multipolar world.

The text emphasizes that Moscow seeks “peaceful cohabitation” and a “balancing of interests” with Washington and begs for Russia to uphold “strategic stability” with America.