The 2022 Annual Report published by the Indian Ministry of External Affairs (MEA) discussed relations with Russia in detail, highlighting the need to enhance trade for reaching the revised target to increase bilateral investment to $50 billion and bilateral trade to $30 billion by 2025.
Economic Ties
The document stressed that Russia is seeking to invest in India in several industries, including oil and gas, petrochemicals, banking, railways, and steel. Meanwhile, India is seeking to invest in Russia’s petrochemical sector.
If you wonder whether India will be following the G7/EU price cap on Russian #oil, here’s the answer straight from India's Petroleum Minister who said "We will buy oil from Russia, we will buy from wherever.” via @Silvia_Amaro #geoeconomics #oilandgas pic.twitter.com/APDBzd7WKp
— Velina Tchakarova (@vtchakarova) December 10, 2022
The two sides are also looking to expand ties in the agriculture industry through the Working Group on Agriculture, which was held virtually in June 2022. The India-Russia Committee for bilateral negotiations on fertiliser trade also met in September and November of last year to discuss the “long term supply of fertilisers from Russia to India.”
Relationship Flourishing Despite Obstacles
The MEA mentioned that despite global crises like the Ukraine conflict and the COVID-19 pandemic, India’s Special and Privileged Strategic Partnership with Russia has been growing through political and economic engagements.
It noted several bilateral interactions, such as telephone calls between Indian PM Narendra Modi and Russian President Vladimir Putin, three of which were focussed on evacuating Indian students from Ukraine. Thereafter in July 2022, the leaders outlined the need to enhance the trade of agricultural goods, fertilisers, and pharmaceuticals.
In addition, during the Shanghai Cooperation Organisation (SCO) Summit in September 2022, both leaders spoke of ensuring global food security, energy security, and export of fertilisers. The release further said that the PM has “reiterated his call for an early cessation of hostilities in Russia and the need for dialogue and diplomacy.”
WATCH: MP #ShashiTharoor cites PM #NarendraModi's statement in #Samarkand, and EAM #Jaishankar's remarks in #Moscow, to highlight #India's changing stance on #Russia's aggression in #Ukraine. #Modi #UkraineWar #G20 #RaisinaDialogue #RaisinaDialogue2023 pic.twitter.com/O2kbQt2U1A
— Statecraft (@statecraftdaily) March 9, 2023
The report emphasised foreign minister-level (FM) engagements between External Affairs Minister (EAM) S. Jaishankar and his Russian counterpart Sergey Lavrov during their April 2022 meeting in New Delhi. In July 2022, the pair also met in Bali for the G20 FM Meet and in Shanghai for the SCO FM Meet.
For the first time since the start of the Ukraine conflict, Jaishankar visited Moscow to meet Lavrov in November 2022.
In addition, India and Russia have maintained close ties through engagements in defence, health, trade, counter-terrorism and international affairs. They have also cooperated on pressing regional and international issues in fora, such as BRICS, SCO, and the Financial Action Task Force (FATF).
More importantly, despite geopolitical difficulties, the two sides are looking to expand cooperation in civil nuclear energy through the ongoing Kudankulam Nuclear Power Plant project.
India on Ukraine War
The report further noted that India has abstained from all resolutions proposed in multilateral fora, such as the UN General Assembly and the UN Human Rights Council. Nevertheless, it said that New Delhi supports the “immediate cessation of hostilities and an end to violence” and has called for reliance on diplomacy and dialogue.
The report referred to Russia’s “special military operation” in Ukraine, using terminologies preferred by Moscow, as opposed to the US-led Western bloc, which calls it a military invasion or a war.
"India has sent 12 consignment of humanitarian aid to Ukraine. The 12th consignment consisted of 26 types of medicines, including hemostatic bandages," @IndiaUNNewYork @ruchirakamboj tells UNSC at Ukraine meetpic.twitter.com/tprUxNCmMF
— Sidhant Sibal (@sidhant) August 24, 2022
However, the release acknowledged the “escalation of hostilities” since October 2022 and the “repetitive missile and drone attacks by Russia” targeting “critical energy and civilian infrastructure.
On Ties with Ukraine
The MEA underlined that India has provided 12 consignments containing 99.3 tonnes of humanitarian aid to Ukraine since the conflict began on 24 February 2022. The report discussed MEA-led operations in Ukraine’s neighbouring countries during the early stages of the conflict, when India evacuated its citizens from the war-torn region.
The release highlighted that PM Modi spoke to Ukrainian President Volodymyr Zelensky in October, and FM Dmytro Kuleba in August. Meanwhile, EAM Jaishankar and National Security Advisor Ajit Doval also spoke with Ukrainian officials on several occasions through the year. Indian and Ukrainian representatives also engaged on the sidelines of international fora, such as the ASEAN Summit in November in Cambodia.