Courtesy: Evraz
Three years into the war with Ukraine, Russia has adapted to the changed economic scenario. It’s an ideal time for India and Russia to step up their economic engagement, especially as India seeks resources in energy and critical minerals for growth. However, Indian companies are wary of using these opportunities and are missing out on access to the world’s larges and most mineral-rich region.
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The 22nd India-Russia summit, held in Moscow on July 9 during Prime Minister Modi’s official visit, focused on expanding bilateral economic, energy, cultural and defense cooperation. It indicates the two nations’ commitment to adding substance and new momentum to their relationship. The long-delayed summit, which coincided with the NATO summit in Washington, should be viewed through the wider lens of a multipolar world.