Strengthening India-Russia Ties- A Focus on Vibrant Gujarat Summit Participation

Strengthening India-Russia Ties: A Focus on Vibrant Gujarat Summit Participation

External Affairs Minister S Jaishankar engaged in discussions with Russian Foreign Minister Sergey Lavrov in Moscow, addressing the international strategic landscape and ongoing tensions. Stressing the robust nature of their relationship, Jaishankar highlighted the special and privileged strategic partnership during their 7th meeting this year. Anticipating a formidable Russian presence at the Vibrant Gujarat meeting in January, the ministers’ talks underscored the consistent strength of diplomatic ties between the two nations.

As the Vibrant Gujarat Summit approaches, it is noteworthy that Russia, among 25 partnering countries, has committed to significant participation, with eight governors set to attend. These governors, arriving in Delhi on January 8th, will contribute to the summit held in Gandhinagar from January 10th to 12th. Despite the ongoing Russia-Ukraine conflict, India and Russia’s strategic partnership remains resilient and ascendant, exemplified by their collaboration in various international forums.

The bilateral trade between India and Russia reached a substantial US$49.36 billion in 2022-23, marking a notable 161.22% increase in the first six months of the current financial year. This impressive growth trajectory has set the ambitious goal of achieving a bilateral investment of US$50 billion by 2025.

Highlighting the strategic importance of Gujarat, Russian Ambassador Denis Alipov, during his meeting with Chief Minister Bhupendra Patel, underscored the state’s role in the International North-South Transport Corridor (INSTC) project. Patel proposed further collaboration, suggesting the development of the route by India, Russia, and Central Asian nations. Additionally, discussions included the prospect of establishing an educational research institute in GIFT City, aligning with the upcoming summit’s focus on enhancing investments in Asia’s emerging financial hub.

Building upon past collaborations, Ambassador Alipov and Chief Minister Patel explored avenues for expanded cooperation in trade, industrial production, infrastructure, and education. The historical investments by Russia in projects such as the butyl rubber facility in Jamnagar and the substantial involvement in Nayara Energy underscore the enduring economic ties between the two nations.