chrisbon
Major Features
Subscription

Corporate news subscription

Ïîäïèñàòüñÿ

Print version subscription:

Equity Markets Indices
MICEX14.06%
RTS
Main Financial
Market Indicators
US Dollar/Ruble00%
Euro/Ruble00%
Gold (Au) rub/g
Silver (Ag) rub/g
Platinum (Pt) rub/g
Palladium (Pd) rub/g
Refinancing Rate%
Opinion Poll

Poll not found.

Russian president in India to foster long-term strategic bilateral cooperation with New Delhi


Russian President Dmitry Medvedev arrived in New Delhi on December 4, accompanied by a high-profile state delegation comprising leaders of top Russian private and state companies, thus underscoring the Kremlin’s intention to boost its strategic partnership with this fast-growing Asian economic giant.

Moscow’s far-reaching intentions and plans are further highlighted by the series of planned meetings of the Russian delegation with the entire political leadership of India, from President Pratibha Patil, Vice President Hamid Ansari, Prime Minister Manmohan Singh, Foreign Affairs Minister Pranab Mukherjee and leader of the Indian National Congress Party Sonia Gandhi to the leader of the Opposition, Lal Krishna Advani, a move that will help provide the needed political consensus in the society to elevate the presently productive bilateral relationships to a new, higher level.

Indeed, these two nations have been able to establish really functioning cooperation mechanisms in several economic sectors as well as bi- and multilateral platforms, including the BRIC family and the so-called Russia-China-India Triangle, amongst others. The unique rapport between the countries’ top political leaderships, which went back to the Soviet era, has been fundamental to the hitch-free and productive bilateral cooperation between Russia and India since the latter got its independence over 60 years ago.

The importance of this uniquely robust relationship between the two countries was repeatedly stressed by the two leaders throughout the visit. "For my part, I want to say that I think it extremely important to ensure the continuation of the fine traditions of friendship, mutual understanding and cooperation between Russia and India," Medvedev said. "These relations of trust have developed over the course of centuries and today are helping us to build and strengthen our strategic partnership, and this is especially important in times of trial. Such a trial, for example, was the terrorist attack on Mumbai," he added.

In their turns, the Indian foreign minister  called New Delhi and Moscow old and time-tested friends and partners, while the prime minister called the December meeting with the Russian president ‘historic’ and noted the importance of the strategic partnership between the two countries, which he called the ‘anchor’ of all the bilateral relationships between Moscow and New Delhi. “Russia and India should work together to build a new and more just world order, and I believe that the role of Russia under your presidency will be become strengthened.”

Today, this unique political affinity is gradually translating into more productive economic cooperation, which has often lagged behind the more robust poltical and defense relationships between the two nations. Thus, according to Medvedev, the volume of trade turnover between India and Russia in 2008 is expected to clock a record $7bln, up from $5bln in 2007, while the short-term goal, according to both countries' officials, is to increase this figure to $10bln per year by 2010. This target, however, pales significantly, when compared with India's trade turnover figures with its other international trade partners. For instance, India currently has $40bln in trade turnover with China and about $100bln with the United States, according to international trade figures.

However, the visit came just a week after one the most devastating terrorist acts in India’s history, as Mumbai, the nation’s major economic center, came under unprecedented international terrorism attacks, which killed nearly 200 people, injured several more and brought the hitherto exuberant city with its multibillion-dollar businesses to standstill. Indeed, the city and the whole nation and the larger global community have yet to recover from these barbaric attacks, violations of India’s boundaries and the casualties left behind by the terrorists.

In fact, the geography of the origins of the victims, which spanned all the continents, the scale of the inhumane attacks and the evidently meaninglessness of these perpetrators’ actions and objectives have put the Mumbai tragedy in the same category with the equally deadly Bali attacks in 2002, the Beslan school catastrophe in Russia in 2004, the Madrid attacks in 2004, the London Subway attacks in 2005, and finally, the most heinous 9/11 attacks on the United States that killed thousands of people in New York, Pentagon and Pennsylvania in 2001.

The Mumbai tragedy has once again highlighted the worrying ineffectiveness of the ongoing global war against ideological terrorism and their domestic and international sponsors, and the fact that more concerted global efforts and determination are now needed more than ever before to defeat this unprecedented challenge to the whole world and modern civilization. The Russian delegation noted that the Mumbai tragedy will leave its imprint on the negotiations between the countries, especially those concerning the global fight against terrorism.

“A broad spectrum of issues on cooperation against terrorism, both on bilateral platform as well as in joint efforts with other global powers, will be given a special attention during the negotiations, Sergei Pridkhodko, an aide to the Russian president, said in Moscow on the eve of departing for New Delhi. While at a meeting with Indian prime minister, Medvedev extended Russia’s condolences to the victims and relatives of the terrorist acts and the whole of the Indian people, and declared Moscow’s readiness for full-scale cooperation with New Delhi on all fronts to prevent such terrorist attacks in the future.

“We are prepared to help in the investigation of the recent terrorist attacks and creation of an effective global defense system against terrorism in the world," the president said. "Once again, on behalf of my delegation, I express my condolences to all of the victims’ families and reaffirm our solidarity in the fight against terrorism. We are ready to work with our Indian colleagues in this area, in all possible ways, and we are ready to provide support in every area we can." The Indian prime minister thanked the Russian president for his solidarity in connection with devastating terroristic attacks on Mumbai.

Apart from combating global terrorism, other key issues on the Russian delegation’s agenda, according to Sergei Kiriyenko, the director of the Russian Atomic Energy Corp., and other members of the official delegation, include traditional issues of bilateral cooperation between Russia and India, notably defense contracts, energy, nuclear technologies, bilateral joint ventures, etc. “India is a huge market for nuclear technologies. And, the competition from other major nuclear powers such as the United States, France, etc., is very high,” Kiriyenko said. “However, despite this cutthroat competition, Russian technologies and proposals are always competitive. This is why we are not afraid of competition in India,” he added.

Meanwhile, both the Russian and Indian leaders are also to use the occasion to close 2008, declared “The Year of Russia in India” and officially declare 2009 “The “Year of India in Russia.” A lot of cultural and social events from both sides have been outlined to make these ceremonies.

P.S.: The Russia Corporate World is currently preparing a comprehensive Special Indian Business Report, featuring interviews with Indian Ambassador in Russia HE Prabhat P. Shukla and the opinions/comments of CEOs of top Indian companies in Russia on their activities in this country and a review of all Indian-Russian economic ties, including a more detailed coverage of this visit.