External affairs minister S Jaishankar and his Russian counterpart Sergey Lavrov are set to meet in Moscow on Wednesday to review the strategic partnership between the two countries and to chart out plans for future cooperation.
Jaishankar, who is on a five-day visit to Russia, met deputy prime minister Denis Manturov on Tuesday for discussions aimed at bolstering trade and investment between the two sides. Several agreements were signed following the talks, including one on future units of the Kudankulam nuclear power project in Tamil Nadu.
Lavrov and Jaishankar will focus on “current and future areas of bilateral cooperation” and discuss the schedule of upcoming contacts between the leaders of the two sides, a readout from the Russian government said.
“The main emphasis will be on promoting the further building of sustainable transport, logistics and banking and financial chains [and] expanding the use of national currencies in mutual settlements,” the readout said.
The two foreign ministers will also discuss cooperation in hi-tech areas, including space and nuclear energy, and the implementation of joint projects for the development of hydrocarbons on the Arctic shelf and in Russia’s Far East, the readout said.
Jaishankar and Lavrov are also expected to compare notes on international issues and cooperation at the United Nations, Shanghai Cooperation Organisation and G20. Russia’s priorities for its chairmanship of the Brazil-Russia-India-China-South Africa (Brics) grouping will be part of the talks.
{{/usCountry}}Jaishankar and Lavrov are also expected to compare notes on international issues and cooperation at the United Nations, Shanghai Cooperation Organisation and G20. Russia’s priorities for its chairmanship of the Brazil-Russia-India-China-South Africa (Brics) grouping will be part of the talks.
{{/usCountry}}“An in-depth exchange of views is expected on the issues of forming a fair security architecture in the Asia-Pacific region, the situation in Ukraine and Afghanistan, as well as the Palestinian-Israeli confrontation,” the readout said.
The readout said Russia and India are “committed to multipolarity as an integral factor in ensuring the balance of the world order” that has emerged in recent decades. Russia supports countries of the Global South in upholding political and economic sovereignty “amid the spread of neocolonial practices”, and its priority is to promote a positive agenda, the readout added.
Jaishankar’s meeting with Manturov, who is also Russia’s industry and trade minister, largely focused on financial and economic issues.
India-Russia trade has ballooned to $50 billion this year, up from about $14 billion two years ago, largely on the back of New Delhi’s purchases of Russian crude since the imposition of Western sanctions on Russia following its invasion of Ukraine last year. However, trade is skewed in Russia’s favour and India is keen to expand its exports.