New Delhi- Energy, fertilisers, nuclear cooperation and high technology are emerging as key areas of India’s economic engagement with Russia as the two countries look to expand bilateral cooperation.
External Affairs Minister S Jaishankar met Russian President Vladimir Putin in Moscow during his visit for the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
Putin told Jaishankar that Russia was giving priority to cooperation with India in areas including energy, fertilisers, nuclear energy and high technology, according to Indian Express reporting on the meeting.
The talks come ahead of two important diplomatic meetings involving Prime Minister Narendra Modi and Putin. The two leaders are expected to meet at the Shanghai Cooperation Organisation summit in Kyrgyzstan at the end of August and again at the BRICS summit in New Delhi in September.
Energy remains one of the most important parts of the relationship.
India’s large energy requirements make stable supplies and competitive prices a major economic consideration, while Russia remains an important partner in several areas of the energy relationship.
Fertilisers are equally significant because their availability and price have a direct bearing on India’s agricultural economy.
The discussion of high technology and nuclear energy also points to the broader direction of the relationship. India and Russia have historically maintained cooperation in defence and nuclear sectors, but both sides have increasingly sought to widen the economic relationship.
The meeting also comes against a complicated international backdrop, with India continuing to maintain relationships with Russia while managing its ties with the United States, Europe and other major powers.
For New Delhi, the challenge is to secure its economic and strategic interests without allowing any one relationship to define its foreign policy.
The coming meetings between Modi and Putin are therefore expected to provide a broader political setting for the economic discussions now underway.
SEO Title: India-Russia Talks: Energy, Fertilisers and High Technology in Focus
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