New Delhi: Amid rising trade tensions triggered by US President Donald Trump’s renewed tariff threats on India, Indian Foreign Secretary Vikram Misri is set to visit Russia on March 7. The visit holds strategic significance as both nations aim to bolster trade and economic cooperation.
According to official sources, Misri’s discussions in Moscow will focus on strengthening bilateral trade, expanding economic partnerships, and exploring new avenues for collaboration. This visit comes at a crucial juncture when India is looking to diversify its trade relations and reduce dependence on Western markets.
Trump’s Tariff Threat and Its Impact
Recently, Donald Trump, who is vying for re-election in the US, hinted at imposing retaliatory tariffs on India if he returns to power. This has raised concerns in New Delhi, prompting India to strengthen trade relations with other key global players, including Russia.
India-Russia Trade Ties
India and Russia have historically shared strong diplomatic and economic relations. Over the past few years, trade between the two nations has seen significant growth, especially in the energy and defense sectors. With Western sanctions on Russia due to the Ukraine conflict, India has become a major buyer of Russian crude oil, significantly boosting bilateral trade.
Experts believe that Misri’s visit will focus on increasing trade in key sectors such as energy, defense, and agriculture. Additionally, discussions may include strengthening payment mechanisms to bypass Western sanctions and ensuring smooth trade transactions.
Strategic Importance of the Visit
India’s engagement with Russia remains vital for its energy security, defense needs, and overall geopolitical strategy. Strengthening economic cooperation with Russia will help India navigate the challenges posed by changing global trade dynamics, especially in light of potential US trade restrictions.
The outcome of this visit will be closely watched as India seeks to balance its relations with both Russia and the US while securing its economic and strategic interests.
