There are many terms that have emerged in recent years that describe the relations between India and Russia. Time-tested. A constant. A factor of global stability. All-weather. Exemplary. Relations of trust. The forthcoming state visit to India by the President of Russia Vladimir Putin marks the 25th anniversary of the Strategic Partnership between the two countries, that was set up with the Declaration signed in October 2000 in New Delhi. Over that time, the relationship has deepened, achieving the unprecedented status of Special and Privileged Strategic Partnership – the only such status that Russia and India have with another country.
President Putin’s visit to India on December 4-5, 2025, is significant because it builds upon the momentum that was set up by Prime Minister Narendra Modi’s remarkable visit to Moscow and then to Kazan in 2024. Then, the two leaders reviewed the bilateral agenda in the new geopolitical context and have tasked their governments with a detailed list of endeavours and executions to advance cooperation in multiple areas. Much work has been done since then, and the outcome of these efforts will be visible in the forthcoming summit.
Continuity in Russia-India relations runs parallel with adaptability. The relationship has rebalanced itself in accordance with the deep internal transformation that the two countries have undergone in the nineties. The disequilibrium and shifts in the global power system has been addressed by bringing economic cooperation into the forefront of the bilateral agenda. This dimension has for long been in the shadow of other pillars of collaboration but is the most dynamic and promising of all. It has become one of the personal priorities of the two leaders too and will figure prominently at the forthcoming summit.
Much has been said before about the need to balance bilateral trade, that has grown multifold, and to increase India’s exports to Russia. This is a major unrealised potential for the Russia-India partnership. While globally, Russia’s imports are $295 billion USD, India’s share is less than 2%, and Russia’s share in India’s total exports is even less. Sensitivity to each other’s concerns and needs is already a hallmark of the relationship.
Russia will be supportive of India’s efforts to diversify trade and to open new markets for its exporters. The Russian business community is interested in a broad range of products from India beyond the traditional pharmaceuticals and agricultural goods. The key role in growth and diversification will be played by the medium-size companies from both sides. Logistics and payment mechanisms between the two countries are being further improved – a natural given that India and Russia have two of the most sophisticated digital financial and payment systems in the world. Trade in national currencies already constitutes over 90% payments. As India takes over the BRICS Chairmanship for 2026, discussions of its agenda may feature in the bilateral summit too. BRICS is becoming an increasingly important global forum for promoting better trade and economic engagement between its members. Initiatives under development include the BRICS investment platform, commodities exchange, payments clearing mechanism, arbitrage.
Defence cooperation, as always, is significant for the two countries, despite Russia’s decreased share among India’s suppliers. Technology transfers and deep localisation of advanced systems in the spirit of “Make in India” have been the strength of Russia-India cooperation in defence, responding to India’s drive for self-sufficiency. The Brahmos, S-400, S-500 and Su-57 are some of the best examples of technology tested in combat where the two countries will continue to cooperate. The upcoming new avenue of collaboration is civil aviation, where joint efforts will contribute to India’s aim of significantly increasing the number of local airports across the country. In the last several years Russia has made unprecedented progress in complete localisation of production of its aircraft, both military and civilian, and it is ready to share this knowledge and experience with India.
In the broader geopolitical context, undoubtedly there will be a frank first-hand update on the situation and peace process around Ukraine. The two sides will also touch upon the issues of security architecture in the Greater Eurasian space and in the regions of the Indian and Pacific oceans. Russia has always maintained that global peace and stability cannot be built and preserved without India, with its growing economic and political weight, as well as its inherent multi-stakeholder approach to governance, which are some of the most important factors shaping the new multipolarity in the world.
Lydia Kulik is the Head of India Studies at the Moscow School of Management SKOLKOVO and Senior Research Fellow at RAS Institute of Oriental Studies.
This article was exclusively written for Gateway House: Indian Council on Global Relations. You can read more exclusive content here.
Support our work here.
For permission to republish, please contact outreach@gatewayhouse.in
©Copyright 2025 Gateway House: Indian Council on Global Relations. All rights reserved. Any unauthorised copying or reproduction is strictly prohibited.