External Affairs Minister S. Jaishankar elaborated on India’s global strategy, emphasizing that it is not merely transactional but focused on fostering long-term partnerships. Speaking at the India-Russia Business Forum, he outlined ten key areas to further strengthen the India-Russia relationship.
Jaishankar noted that the Forum came just three months after the Annual Summit between President Putin and Prime Minister Modi in Moscow, which, along with the BRICS summit in Kazan, provided the strategic direction for this gathering. He emphasized that as the world becomes increasingly multi-polar, it is essential to adapt methods of cooperation that align with current global dynamics.
Highlighting the complementary nature of the two economies, Jaishankar pointed out that India’s consistent growth rate and Russia’s rich natural resources and technological expertise make them ideal partners. He also referred to Russian President Putin’s description of India as “a natural ally of Russia,” further strengthening the ties between the two nations.
Jaishankar set a target of reaching $100 billion in trade by 2030 and stressed the importance of improving trade relations with the Eurasian Economic Union. He also focused on the need to boost cooperation in Russia’s Far East and create better trade balances through national currency settlements.
Another key issue he raised was the progress of three critical connectivity projects between the two countries: the International North-South Transport Corridor (INSTC), the Chennai-Vladivostok Corridor, and the Northern Maritime Route.
Jaishankar emphasized India’s long-standing role in the global energy market, particularly in oil, gas, coal, and uranium, and called for mutually beneficial agreements to address global volatility and uncertainty. He urged the forum’s leaders to find workable solutions that would benefit both countries, reflecting the long-term and stable nature of the India-Russia partnership, which has thrived for over 75 years.
