Russian President Vladimir Putin will attend the 19th India-Russia Annual Bilateral Summit in the national capital today.
India Russia ties have had long-standing and trusted ties. However, despite the strong diplomatic and security ties, India Russia trade volume is still at the level of 10 billion dollars, way below the potential. India and Russia are now setting a target for $30 billion in bilateral trade by 2025.
This trade ties may get the further boost once the proposed International North-South Transport Corridor becomes operational. The multi-modal network of the ship, rail, and road route for moving freight routing through central Asia may open window of opportunity for the region. Russian weaponry has been a traditional strength of India forces.
Russia and India are expected to sign a deal worth more than five billion dollars on the delivery of Russian S-400 missile systems to New Delhi during this visit of Russian President. The value of the contract will be more than five billion dollars.
The S-400 missile system is a state-of-the-art weapons platform with a maximum range of 400km, considered one of the best defence systems in existence. Besides the ongoing trade and defense deals, experts say people to people connect is very important.
After the collapse of the erstwhile USSR, there has been a stagnation in people to people dialogue. A new generation has grown in the last 25 years, which calls for a new approach to revive public perception in both countries about each other.
The Bilateral summit of India and Russia was established during former Prime Minister Atal Bihari Vajpayee’s tenure. Over these years the continuity of this summit has been a telling story between the decades-old India-Russia relationship.