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India-Russia Relations Under Modi 3.0 Are Here to Stay and Even Deepen

Modi's Russia visit has taken the world by surprise.

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It was a meeting that was closely watched around the world, given the powerful optics.

The recently concluded visit by Prime Minister Narendra Modi to Moscow was not just hugely successful, but as several have pointed out, even historic. And not without good reason. The visit was more about symbolism than substance.

The major takeaways were the agreement to promote Indian investments and cooperation in Russia’s Far East and the Arctic, the implementation of the Chennai-Vladivostok Maritime Corridor, the agreement to facilitate the settlement of civil law disputes of commercial nature, and agreements to promote bilateral trade and investments and the bilateral settlement system using national currencies.

Trade figures have already touched $60 billion on account of Russian crude oil, with the trade balance heavily tilted in Russia’s favour. Both sides have now set a target to reach $100 billion by 2030.
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