Economy, asked by Tanyaaaaa6597, 1 year ago

India's strategic relationship with russia

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Answered by NandhaMK36
1
Traditionally, the Indo-Russian strategic partnership has been built on five major components: politics, defence, civil nuclear energy, anti-terrorism co-operation and space.These five major components were highlighted in a speech given by former Indian Foreign Secretary Ranjan Mathai in Russia.However, in recent years a sixth component, economic, has grown in importance with both countries setting a target for US$30 billion in bilateral trade by 2025. In order to facilitate this target both countries are looking to develop a free trade agreement.Bilateral trade between both countries in 2012 grew by over 24%.

The powerful IRIGC is the main body that conducts affairs at the governmental level between both countries.Both countries are members of many international bodies where they jointly collaborate closely on matters of shared national interest. Important examples include the UN, BRICS, G20 and SCO.Russia has stated publicly that it supports India receiving a permanent seat on the United Nations Security Council.In addition, Russia has expressed interest in joining SAARC with observer status in which India is a founding member.

India is the second largest market for the Russian defence industry. In 2017, approximately 68% of the Indian Military's hardware import came from Russia, making Russia the chief supplier of defence equipment.India has an embassy in Moscow and two consulates-general (in Saint Petersburg and Vladivostok). Russia has an embassy in New Delhi and four consulates-general (in Chennai, Hyderabad, Kolkata, and Mumbai).

According to a 2014 BBC World Service Poll, 45% of Russians view India positively, with only 9% expressing a negative view.

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Answered by alok134
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