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Russia and India: Development of Trade and Economic Cooperation
Purpose: Russian-Indian international relations have a long history of great friendship and understanding and nowadays they are at their highest point of strategical partnership. However, political relations need to be supported by economic cooperation. This article devoted to analysis of Russian-Indian economic partnership Methods: Analysis of Russian-Indian foreign trade structure and development is based on data from WTO, IMF and various open sources. The key is to understand how economic and trade structure could influence foreign relations.
Results: This research shows that based on volume and size of foreign trade India cannot be considered an important trade partner and vice versa. Still, Russian-Indian trade interactions have a significant room for growth. The base for it is common international policy purposes of Russia and India, their long history of political understanding and friendship.
Discussion: The conclusion of this research shows contradictions in Russian-Indian foreign relations. While politically they are at the highest point, the economic relations don’t match and have significant room for growth.
Results: This research shows that based on volume and size of foreign trade India cannot be considered an important trade partner and vice versa. Still, Russian-Indian trade interactions have a significant room for growth. The base for it is common international policy purposes of Russia and India, their long history of political understanding and friendship.
Discussion: The conclusion of this research shows contradictions in Russian-Indian foreign relations. While politically they are at the highest point, the economic relations don’t match and have significant room for growth.
Russian-Indian international relations, history of international relations, foreign trade, India’s economy