SYLLABUS
GS-2: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
Context: Recently, the President of the Russian Federation paid a state visit to India on December 4-5, for the 23rd India-Russia Annual Summit.
Key Highlights of the Summit
- Major Outcomes & Agreements:
- Both sides set an ambitious bilateral trade target of USD 100 billion by 2030.
- Work has begun on a Free Trade Agreement (FTA) between Eurasian Economic Union and India, seen as a major step to expand economic engagement.
- This year marks the 25th anniversary of the Declaration on Strategic Partnership between India and Russia.
- Areas of Cooperation: Trade, Industry & Technology:
- Cooperation planned in electric mobility (EVs), pharmaceuticals, textiles, space, and high-tech manufacturing envisaging co-production and co-creation.
- Emphasis on joint development in healthcare, including vaccines, cancer therapies, radiopharmaceuticals, and APIs leveraging India’s pharma strengths and Russia’s technology.
- In textiles, combining Russia’s raw-material strengths with India’s design, handicraft, and manufacturing capability to build a “resilient textile value chain.”
- The Leaders welcomed the adoption of the Programme for the Development of Strategic Areas of India – Russia Economic Cooperation till 2030 (Programme 2030).
- Both sides welcomed steps to ensure long-term supply of fertilizers to India and discussed the potential establishment of joint ventures in this area.
- Defence, Civil-Nuclear, Space & Connectivity:
- Agreements were signed to collaborate under joint manufacturing and technology transfer models especially for spare parts, components for maintenance of Russian-origin defence equipment under India’s “Make-in-India” framework.
- The two sides agreed to expand cooperation in nuclear energy, covering the fuel cycle, life-cycle support for the Kudankulam Nuclear Power Plant, and non-power nuclear applications.
- Both sides highlighted nuclear cooperation as a key part of their strategic partnership, especially in light of India’s goal to raise nuclear capacity to 100 GW by 2047.
- Commitment to upgrade and expand connectivity via major corridors the International North–South Transport Corridor (INSTC), the Northern Sea Route, and the Chennai–Vladivostok Corridor aimed at reducing transit time, cutting logistics costs and opening new markets.
- Proposal to use digital technologies to link customs, regulatory systems and create “virtual trade corridors” to make cargo movement more seamless.
- The Sides agreed to fast-track technical and commercial talks on Russian-designed VVER reactors, jointly develop NPPs, and cooperate on localization and manufacturing of nuclear equipment and fuel assemblies, under mutually agreed terms.
- Cooperation in the Russian Far East and Arctic:
- The 2024–2029 cooperation programme provides a framework for collaboration in key sectors such as agriculture, energy, mining, manpower, diamonds, pharmaceuticals and maritime transport.
- They emphasized the need for regular consultations on Arctic issues and noted progress in cooperation on the Northern Sea Route.
- People-to-People, Labour Mobility & Investment:
- Announcement to ease tourist visas between the two countries, intending to boost tourism, business travel, and create new employment and investment avenues.
- Emphasis on India’s young workforce described as “the world’s skilled capital,” with potential to meet global requirements. India offered to train workers to create a “Russia-ready workforce” for industries across both countries.
- Russian side committed to increase purchases from India of a wide range of goods and services signalling readiness to import more Indian products and diversify trade beyond traditional energy exports.
- The Leaders welcomed the opening of two Consulates General of India in Yekaterinburg and Kazan.
- Cooperation in the UN and multilateral fora:
- The two Sides intend to further strengthen cooperation within the UN Committee on the Peaceful Uses of Outer Space (UN COPUOS), including the issues of the long-term sustainability of outer space activities.
- Both Sides welcomed Russia’s adoption of the Framework Agreement to join the International Big Cat Alliance. India looks forward to Russia’s early entry into the International Solar Alliance and Coalition for Disaster Resilient Infrastructure.