India-Russia Ties Strengthen Amid Global Turmoil, Future-Oriented Partnership on the Horizon
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As global tensions rise, India and Russia are strengthening their time-tested partnership, which has proven resilient in the face of Western sanctions. In an exclusive interview, Russian Ambassador Denis Alipov outlined the key areas of cooperation, including nuclear power, defence, and trade. Russia and India have made significant progress in adapting to sanctions, with over 90% of trade now settled in national and alternative currencies. This shift has made mutual settlements more secure and diversified, with Russian banks adapting to sanctions and Indian credit institutions learning to minimize the risk of secondary sanctions. The upcoming annual summit will focus on boosting economic cooperation, aiming to reach a new landmark of $100 billion by 2030. Key areas of discussion will include the construction of small modular reactors, blockchain, artificial intelligence, and expanding defence technology transfer, including the licensed production of Su-57 fifth-generation combat jets. Russia appreciates India's principled stance on the Ukraine conflict, which has not endorsed Western sanctions. Alipov emphasized that sanctions do not help resolve crises, and India's role as a key player in the emerging multipolar world is crucial in promoting a peaceful solution. As India prepares to take over the presidency of BRICS in January, Russia sees the bloc playing a vital role in promoting alternative arrangements for trade and economic cooperation. The grouping aims to strengthen its role in the international monetary and financial system, promote currency diversification, and enhance interbank cooperation. Looking ahead, Russia and India plan to diversify their trade and investment cooperation, with a focus on joint ventures and mutual presence in capital markets. The introduction of the Authorized Economic Operator mechanism is expected to simplify customs procedures and make business transactions more transparent. In the defence sector, Russia is committed to expanding technology transfer to India, including the licensed production of Su-57 fighter aircraft. The partnership has already seen significant success with the BrahMos missile and the S-400 air defence system. The issue of Indian nationals serving in the Russian Army remains a concern, with both sides working together to address the issue. Alipov emphasized that the Russian Army does not recruit Indian nationals, and those who signed military contracts did so voluntarily.
