Russia and India @ Tomorrow

By Bitan Bhadra

Russia always strikes a chord in every Indian’s heart. No other nation, I believe enjoy this unique stature. It’s born out of shared respect, friendship, collaboration and most importantly, support when India needed the most. Russia has truly been a friend of all calamities. No other nation I know of share such an unconditional cordial bond among them. But we have come at a very important juncture in the history of mankind. World trade doesn’t show promising figures anymore and world peace has become a distant dream. The century poses innumerable challenges to all, and we are no exception.

Russia and India have been co-operating for decades on diverse grounds, but the challenges of the coming decade are very different. Russia continues to be a power to reckon with. But its journey hasn’t been smooth. India has increasingly made its mark felt throughout the world. But it continues to be plagued by its own problems.

Both countries have recognized each other’s territorial rights and co-operated in defence. The world’s geo-political scenario is changing with rise in EU and relative fall of US as an economic giant. China continues threatening this position. Middle East is disturbed. Terrorism still persists. And USA has found new rivalries in North Korea and Iran. The world is getting largely multi-polarized. India is reaching for the throne of a superpower. The Russia-India accord is definitely going to become a game-changer for coming years and will reshape the geo-polity of the world.

The US economy is hurt. China, the next big giant has a huge trade surplus, one of the most controversial macroeconomic issues of this decade. India, another rising power though was hit, but not hurt. India continues to grow as a software hub; it still retains highest position in production of a wide variety of food grains. India is also very mineral-rich. India contains one of the biggest pharmaceutical industries in the world and is a huge exporter. But the manufacturing sector is just in limits with the demand in the country. It continues to face poverty, inflation and regular oil price hikes. Russia sits on a huge pool of oil reserves and natural gas. Its economy is largely dependent on hydrocarbons. Time and again, Russia’s leaders have tried to restructure the economy, to make it less dependent on oil and gas. Russia is abundant in other natural resources from timber to minerals of all varieties. It is largely a supplier of raw material to many nations. Russia is fifth largest by purchasing power parity. Russia has a very robust IT market and software exports are ever rising. But there have been signs of slumps in the economy recently. So, both countries fit into a fine jigsaw puzzle that needs to be better taken advantage of. Russia and India need to open up their markets to each other further. Economic giants of each country need to be encouraged to open up industries in the other country. The laws and tax issues need to be re-written to facilitate the same. Ultimately Indo-Russia co-operation should be aimed at plugging each other’s deficiencies and working on common strengths. Russia continues to remain one of the major exporters of oil. At the same time, India is oil-thirsty. The rising demand and consumption shows India needs to find more energy avenues. Russia also needs to diversify its exports. Oil trade between the largest supplier and largest consumer will be a boon for both. Co-operation in clean energy sectors like wind, hydro-electric, solar power will meet up both countries’ energy needs of the future. Sustainable development is the need of the hour and clean energy is the way out. Russia can help India achieve its nuclear power production goals. At the same time, both nations must carry on research on using thorium as nuclear fuel. India has the biggest thorium reserves in the world. It’s an energy-insurance for coming generations. Trade need to be opened up vigorously and all necessary measures need to be undertaken. Business class joint boards need to be set-up where corporate of both nations may meet and discuss policies. Joint innovation and development in all sectors need to be encouraged. Co-operation in agriculture and manufacturing sectors need to be boosted so that either’s primary and secondary branches of economy grow stronger. Joint collaboration in the already strong services market of both nations will draw in huge money. Rise of BRICS may turn the centre of gravity of the world economy around towards the BRICS nations and make it more stable.

Citizen to citizen interactions are the most important. Both nations share a mutual love for each other, but people interactions remain very low, mostly due to low number of mutual opportunities. Language barrier need to be overcome. Student exchange programme, festivals, cultural programme, tourism, movie shows and art exhibits between the two cultures will foster further cordiality among citizens. More mutual businesses and mutual co-operation in arts and business will encourage people of both sides to come together and discuss ideas and opportunities. When Indians and Russians know each other better, each of our shared interests will be answered and met better. In such circumstances, the next generation world will belong to us.

Bitan Bhadra is a mechanical engineering student from KIIT University. His areas of interest include politics, international affairs, social systems and economics. He is optimistic of India and its future. He has previously written in many platforms on various issues. He is also an avid traveler, trekker and chess player.