The two-day visit of Russian Prime Minister Vladimir Putin to New Delhi has aided in bringing the two countries closer with a slew of deals, mostly related to arms and energy, being signed. This will definitely help Russia and India to strengthen their ties after the innumerable highs and lows seen after the end of Cold War.
The two prime ministers held a series of discussions on a wide range of topics, which Indian PM said went beyond the scope of deals signed. Dr. Manmohan Singh went ahead to declare Russia as a “key pillar of our foreign policy and a valuable strategic partner”. There is no denying that the two countries are renewing their friendship that once flourished during the Cold War.
The major deals signed during the visit include the five for the purchase of $7bn worth of military equipment and expertise. This includes a fleet of Mig-29 fighters and an aircraft carrier. The deal also includes 12 civilian nuclear reactors to meet the energy demands of the country.
Both Russia and India are trying in their own ways to strike trade deals with each other as a countermeasure to Chinese overtures. While India is apprehensive of China’s new friendship with South Asian countries of Pakistan, Sri Lanka and Myanmar as a part of its ‘string of pearls’ strategy, Russia is insecure about the vulnerability of its eastern regions.
Russian PM Putin has expressed hope that the bilateral trade would reach the $20bn mark by 2015 from the present $8bn. With India’s increasing import requirements and Russia’s interest in reviving bilateral trade, this is very much a possibility.
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