Locations affected: India, Russia
What:
Indian Prime Minister (PM) Narendra Modi arrived in Moscow, Russia, on 08th July for a two-day official visit. The visit is PM Modi’s first visit to Russia since he attended an economic conclave in Vladivostok in 2019.
Why:
PM Modi was invited by Russian President Vladimir Putin to attend the 22nd India-Russia Annual Summit scheduled on 09th July. India and Russia have a longstanding defence relationship through which India acquires significant amounts of weaponry for its armed forces. Russia is also a crucial source of oil, energy, and space technology for India. Indian imports of Russian crude rose from $2.5 billion in 2021 to $46.5 billion in 2023.
So What:
- The two countries have agreed to increase cooperation in various sectors, including nuclear power, pharmaceutical, education, and shipbuilding, and discussed ways to fix payment problems.
- Indian and Russian officials have announced plans to expand annual trade volumes to $100 billion by 2030 and signing long-term agreements on oil and gas supplies.
- On 09th July, PM Modi announced the opening of new consulates in Kazan and Yekaterinburg.
- Russia has also announced it would facilitate the discharge and return of all Indians reportedly working for the Russian Army.
- Ukrainian President Volodymyr Zelensky criticized PM Modi’s visit to Russia. At the same time, United States officials announced that they have communicated their concerns with India regarding its relationship with Russia.
Outlook:
PM Modi’s visit to Russia has reiterated the ties between the two countries, especially regarding trade, defence and weapons. There are reports that Indian officials also hope that increasing Indian support to Russia can counter Russia’s close relations with China. India has viewed neutrality with Russia vital to national security amid its own tensions with China over the disputed Himalayan border. On the other hand, PM Modi’s visit may portray support for Russia amidst the Russia-Ukraine war. Organizations are advised to stay updated on the situation and prepare necessary contingency plans.
