PM Modi’s Two-Day Visit to Russia

PM Modi’s Two-Day Visit to Russia

Context

Prime Minister of India Narendra Modi recently concluded a significant two-day visit to Russia, where he attended the 22nd India-Russia annual summit with President Vladimir Putin.

This is important for UPSC Aspirants for UPSC Prelims & Mains regarding India-Russia Relations in International Relations.

Receiving Russia’s Highest Civilian Honour

One of the most notable events of the visit was PM Modi being conferred with Russia’s highest civilian honour, the Order of St Andrew the Apostle. Although this honour was announced in 2019, it was presented during this visit by the Russian President, marking a moment of high prestige and mutual respect.

Bilateral Talks: Strengthening Ties between Close Friends

Reviewing Comprehensive Ties

The summit served as a platform for the two leaders to review and strengthen ties across various sectors, including defence, investment, energy cooperation, education, and culture. This meeting underscored the deep and trusted partnership between India and Russia.

Addressing the Ukraine Conflict

A significant point of discussion was the ongoing conflict in Ukraine. PM Modi emphasized that a solution could not be found on the battlefield and highlighted the futility of peace talks amidst ongoing violence. In a notable development, the Russian President agreed to expedite the discharge of Indian nationals recruited by the Russian military, many of whom are currently at the war front.

Interaction with the Indian Community in Moscow

PM Modi also engaged with the Indian community in Moscow, discussing India’s rising global profile and its image as a ‘Vishwa Bandhu’ (world friend). He praised the community for their contributions to enhancing India-Russia relations and announced the opening of new Indian Consulates in Kazan and Yekaterinburg.

At the Rosatom Pavilion, PM Modi viewed the "Atomic Symphony," a model of the VVER-1000 reactor used in India’s Kudankulam Nuclear Power Plant. This visit highlighted ongoing and future cooperation in nuclear energy between the two nations.

Joint Vision Statement on Trade and Economic Cooperation

A Shift in Focus

Unlike previous summits that primarily focused on military supplies and strategic partnerships, this summit placed a stronger emphasis on economic issues. The leaders outlined a comprehensive vision to enhance trade and economic cooperation.

Addressing Key Issues by 2030

The joint vision statement identified nine key issues to be resolved by 2030, including the elimination of non-tariff barriers, development of a bilateral settlement system using national currencies, and streamlining customs procedures. New connectivity routes such as the Chennai-Vladivostok maritime route, the Northern Sea Route, and the International North-South Transport Corridor via Iran were also highlighted. Prioritizing investments in energy, infrastructure development, and investment promotion were marked as crucial areas for cooperation.

Ambitious Bilateral Trade Target

India and Russia agreed on an ambitious target to increase bilateral trade to $100 billion by 2030. This includes the use of national currencies to bypass Western sanctions. Notably, bilateral trade reached an all-time high of $65.70 billion in FY 2023-24, primarily due to a surge in India’s imports of Russian crude. Achieving this target would elevate the trade relationship to levels seen with major economies like the US, China, and the EU.

Signing of MoUs

Several Memorandums of Understanding (MoUs) were signed between institutions of both countries, covering areas such as climate change, polar research, legal arbitration, and pharmaceutical certification, further strengthening bilateral cooperation.

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