What India Gained from Putin's High-Stakes Visit Amid Global Spotlight

During President Vladimir Putin’s visit to New Delhi, India and Russia emphasised their commitment to enhancing bilateral trade and cooperation across various sectors, including energy, nuclear, and military. Let’s take a look at outcomes of Putin’s high stakes visit.

Prime Minister Narendra Modi and Russian President Vladimir Putin, during the India-Russia Business Forum, at Bharat Mandapam in New Delhi on Friday
Photo : ANI

India and Russia reaffirmed shared ambition to expand bilateral trade in a balanced and sustainable manner, discussed and commended their wide ranging cooperation in the energy sector, cooperation in building stable and efficient transport corridors, broaden cooperation in nuclear energy, among other sectors, during President Vladimir Putin’s 2-day visit to New Delhi on December 4-5.

Prime Minister Narendra Modi and Russian President Vladimir Putin emphasised the special nature of this long standing and time-tested relationship, which is characterised by mutual trust, respect for each other’s core national interests and strategic convergence. They underscored that, as major powers with shared responsibilities, this important relationship continues to be an anchor of global peace and stability that should be ensured upon the basis of equal and indivisible security.

According to the India-Russia Joint Statement, PM Modi and Vladimir Putin positively assessed the multi-faceted mutually beneficial India-Russia relations that span all areas of cooperation, including political and strategic, military and security, trade and investment, energy, science and technology, nuclear, space, cultural, education and humanitarian cooperation. It was noted with satisfaction that both Sides are actively exploring new avenues for cooperation while further strengthening cooperation in the traditional areas. Let’s take a look at key outcomes of Vladimir Putin’s highly anticipated India visit.

Trade and Economic partnership

India and Russia reaffirmed ambition to expand bilateral trade in a balanced and sustainable manner, including by increasing India’s exports to Russia, strengthening industrial cooperation, forging new technological and investment partnerships, especially in advanced high-technology areas and finding new avenues and forms of cooperation.
PM Modi-Vladimir Putin welcomed the adoption of the Programme for the Development of Strategic Areas of India – Russia Economic Cooperation till 2030 (Programme 2030), and set a target to achieve USD 100 Billion trade.
Both the nations appreciated intensification of the joint work on a Free Trade Agreement on goods between India and the Eurasian Economic Union covering sectors of mutual interest.
The two sides welcomed steps to ensure long-term supply of fertilisers to India and discussed the potential establishment of joint ventures in this area.
Both the nations the current and potential cooperation between Indian and Russian companies in fields such as oil and oil products, oil refining and petrochemical technologies, oilfield services and upstream technologies and related infrastructure, LNG and LPG related infrastructure, various existing projects in their countries, underground coal gasification (UCG) technology, nuclear projects, etc.

Trade and Connectivity

India and Russia agreed to deepen cooperation in building stable and efficient transport corridors.
The focus will be on expanding logistics links for improving connectivity and enhancing infrastructure capacity to support the International North-South Transport Corridor (INSTC), the Chennai–Vladivostok (Eastern Maritime) Corridor, and the Northern Sea Route. They welcomed the signing of the MoU on the Training of Specialists for Ships Operating in Polar Waters.

Cooperation in Russian Far East and Arctic

India and Russia have also confirmed to intensity trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation.
This means that there will be more investment and cooperation between the two nations in the sectors of agriculture, energy, mining, manpower, diamonds, pharmaceuticals, maritime transport, etc.

Civil Nuclear Cooperation, Cooperation in Space

The countries will broaden cooperation in nuclear energy, including fuel cycle, life cycle support for operating Kudankulam Nuclear Power Plant (KKNPP) and non-power applications, as well as to elaborate new agenda of interaction in the field of peaceful use of atomic energy and related high technologies.
The countries welcomed progress achieved in implementation of KKNPP including the construction of the remaining NPP units and agreed on adhering to the timeline for supplies of equipment and fuel.
Both held discussions on second site in India for Nuclear Power Plant (NPP). The Indian side will strive to finalise formal allotment of the second site in accordance with earlier signed agreements.

Military and Military Technical Cooperation

In order to boost Make-in-India, India and Russia partnership will jointly work in research and development, co-development and co-production of advanced defence technology and systems.
Both sides agreed to encourage joint manufacturing in India of spare parts, components, aggregates and other products for maintenance of Russian origin arms and defence equipment under Make-in-India program through transfer of technology and setting up of joint ventures for meeting the needs of the Indian Armed Forces as well as subsequent export to mutually friendly third countries.

Cooperation in Science & Technology

India and Russia called for ramping up government-to-government, academia and private sector collaboration to promote application of critical and emerging technologies.
Recognising the strategic importance of critical minerals for emerging technologies and advanced manufacturing, the two Sides expressed interest in deepening cooperation in exploration, processing and recycling technologies of critical minerals and rare earths.
Both Sides called for ramping up government-to-government, academia and private sector collaboration to promote application of critical and emerging technologies.

Cultural cooperation, Tourism and people to people exchanges

India and Russia agreed that cultural interaction and people to people exchanges are an important component of the India-Russia Special and Privileged Strategic Partnership.
They appreciated the participation in major international cultural forums, book fairs, festivals and art competitions organized in both countries and welcomed the holding on a parity basis, of Cultural Exchange Festivals in their countries, aimed at the fullest demonstration of Indian and Russian culture.

Counter Terrorism

Both sides reaffirmed their commitment to strengthening bilateral and multilateral cooperation in the field of combating such common challenges and threats such as terrorism, extremism transnational organized crime, money laundering, terrorist financing and illicit drug trafficking.

Regional and International Issues

India and Russia noted with appreciation the close coordination between India and Russia on Afghanistan, including through the dialogue mechanism between the Security Councils of both countries. They emphasised the important role of the Moscow Format meetings.
The Leaders welcomed the counter-terrorism measures against international terrorist groups, including ISIS and ISKP and their affiliates, and expressed confidence that the fight against terrorism in Afghanistan would be comprehensive and effective.
They stressed the need to ensure urgent and uninterrupted humanitarian assistance to the Afghan people.

Source : https://www.timesnownews.com/india/what-india-gained-from-vladimir-putin-visit-amid-global-spotlight-list-of-big-outcomes-in-nuclear-energy-oil-trade-article-153252022