Indo-Russian relations refer to the bilateral relations between India and Russia. During the Cold War, India and the Soviet Union (USSR) had a strong strategic, military, economic and diplomatic relationship. After the collapse of the USSR, Russia inherited the close relationship with India. This resulted in India and Russia sharing a Special Relationship.
Traditionally, the Indo-Russian strategic partnership has been built on five major components: politics, defence, civil nuclear energy, anti-terrorism co-operation and space.[1] These five major components were highlighted in a speech given by former Indian Foreign Secretary Ranjan Mathai in Russia.[1] However, in recent years a sixth component, economic, has grown in importance with both countries setting a target of reaching US$30 billion in bilateral trade by 2025, [2][3] from about US$ 9.4 billion in the year 2017[4] . In order to facilitate this target both countries are looking to develop a free trade agreement.[5][6][7] Bilateral trade between both countries in 2012 grew by over 24%.[7]
The powerful IRIGC (India-Russia Intergovernmental Commission) is the main body that conducts affairs at the governmental level between both countries.[8] Both countries are members of many international bodies where they jointly collaborate closely on matters of shared national interest. Important examples include the UN, BRICS, G20 and SCO.[9] Russia has stated publicly that it supports India receiving a permanent seat on the United Nations Security Council.[10] In addition, Russia has expressed interest in joining SAARC with observer status in which India is a founding member.[11][12]
India is the second largest market for the Russian defence industry. In 2017, approximately 68% of the Indian Military's hardware import came from Russia, making Russia the chief supplier of defence equipment.
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