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Indian Express
an hour ago
- Business
- Indian Express
India's foreign policy agility must be backed by unity and reform at home
The recent to-and-fro in India-Russia-China diplomacy and their impending summits could be viewed, arguably, against the backdrop of New Delhi's recent discomforts with US President Donald Trump. In what has been a particularly active week for Indian foreign policy, Chinese Foreign Minister Wang Yi was in New Delhi for the 24th round of boundary talks, after which External Affairs Minister S Jaishankar travelled to Moscow to co-chair the 26th session of the India-Russia Inter-Governmental Commission. In less than two weeks, PM Modi will meet with President Xi Jinping at the SCO, and Russian President Vladimir Putin is set to visit India later this year. While these engagements are independent of the Trump disruptions, in the face of tensions with Washington, they have acquired a new dimension. India's immediate concern with respect to Russia is Trump's threat of secondary tariffs on cheap oil purchases. With the Trump-Putin summit in Alaska offering little clarity on the Ukraine war, the US has doubled down on the tariff threat: The US Treasury Secretary, Scott Bessent, this week accused India of profiteering from Russian oil, while Trump's trade adviser, Peter Navarro, wrote an op-ed bluntly titled 'India's oil lobby is funding Putin's war machine — that has to stop'. India can only hope that the US and Russia reach a deal over Ukraine and that Trump rolls back the additional 25 per cent tariff threat. Whatever direction this issue takes, however, going ahead, the larger lesson is that New Delhi must pursue independent relations with the 'great powers', and foreign policy agility must be shored up by unity and long-overdue economic reform at home. India's engagement with China has accelerated since the formal conclusion of the disengagement process nearly a year ago. During Wang's visit to Delhi, the two sides agreed to restart direct flights and border trade, and to establish new mechanisms on border management. Significantly, Beijing's official handout urged India and China to 'demonstrate their responsibility as major powers'. Yet it would be naive to believe that China will not continue to view relations with India through a zero-sum competitive lens. The border dispute remains unresolved, and while disengagement has taken place, the de-escalation that Jaishankar reiterated in his talks with Wang (who visited Islamabad right after New Delhi) still hasn't begun. Beijing appears to see merit in keeping up the pressure along the border. China's defence capacity has grown formidable, while India continues to run a trade deficit of over $100 billion with it, amid tensions with its largest export market, the US. This makes it all the more vital for India to step up domestic economic reform, enhance its technological capabilities, modernise the defence sector — India successfully test-fired Agni-5 on Wednesday — and strengthen security partnerships with its Asian partners. Only by moving towards narrowing the gap with China can New Delhi build enough leverage with Beijing.
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First Post
a day ago
- Business
- First Post
'Need to address urgently': Jaishankar flags soaring trade imbalance despite fivefold rise in India-Russia trade
At the 26th India-Russia Inter-Governmental Commission, External Affairs Minister S Jaishankar calls for urgent action to correct the widening trade gap and outlines a roadmap for deeper economic engagement External Affairs Minister S Jaishankar address the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) in Moscow on Wednesday. ANI External Affairs Minister S Jaishankar on Wednesday raised concerns over the sharp rise in India's trade imbalance with Russia, even as bilateral trade in goods has surged more than fivefold over the past four years. At the 26th Session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), EAM Dr S Jaishankar says "We are meeting here after about 10 months since the last Session in November 2024 in New Delhi,… — ANI (@ANI) August 20, 2025 STORY CONTINUES BELOW THIS AD Addressing the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), Jaishankar said, '…Over the last four years, our bilateral trade in goods has increased, as you have noted, more than five-fold from $3 billion in 2021 to $68 billion in 2024-25 and it continues to grow. However, a major trade imbalance has accompanied the growth; it has increased from $6.6 billion to $58.9 billion which is about nine times. So we need to address that urgently.' Jaishankar also outlined the key priorities for deepening bilateral economic ties, with a strong focus on easing trade barriers and boosting connectivity. Among the top agenda items were removal of tariff and non-tariff barriers, resolving logistics bottlenecks, and enhancing regional connectivity through major corridors such as the International North-South Transport Corridor (INSTC), the Northern Sea Route, and the Chennai-Vladivostok maritime link. Jaishankar stressed the need to streamline payment mechanisms, finalise and execute the Programme of Economic Cooperation until 2030, and to accelerate negotiations for the India-Eurasian Economic Union Free Trade Agreement, whose terms of reference were finalised during the session. Regular engagement between Indian and Russian businesses was also identified as critical to realising these goals. STORY CONTINUES BELOW THIS AD 'They will not only help to address the imbalance and grow our trade, but also hasten the timely achievement of our revised trade target of $100 billion by 2030,' said Jaishankar. Noting that the meeting was taking place against the backdrop of a complex geopolitical environment, Jaishankar emphasised that despite global challenges, the leadership of both countries remains in close and regular contact, having met twice in person last year. 'They provide us wise and practical guidance to our Special and Privileged Strategic Partnership. They had two 'in person' meetings last year and are personally committed to further advancing our strategic partnership,' he added. As the two sides convened to discuss economic cooperation, Jaishankar proposed several measures aimed at improving coordination and strengthening the partnership, underscoring the importance of enhanced efficiency in achieving shared goals. Earlier in the day, External Affairs Minister S Jaishankar, currently on a three-day visit to Russia, met Russian scholars and think tank representatives to discuss India‑Russia relations and broader global issues. Jaishankar's visit comes against the backdrop of deteriorating ties between India and the US, following President Donald Trump's decision to double tariffs on Indian goods to 50%, which includes an additional 25% penalty for purchasing Russian crude oil. Taking to X, Jaishankar said, 'Pleased to interact with prominent scholars and think tank representatives of Russia. Discussed India-Russia relations, contemporary world geopolitics and India's viewpoint.' Later, the External Affairs Minister also paid tribute at Moscow's Tomb of the Unknown Soldier on Wednesday. The historic war memorial near the Kremlin is dedicated to the Soviet soldiers killed during World War II. STORY CONTINUES BELOW THIS AD Jaishankar's visit comes before a possible meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin during the SCO Summit in Tianjin, China. Additionally, discussions are underway regarding the possibility of Putin visiting India later this year. On Monday, Russian President Vladimir Putin had called Prime Minister Narendra Modi and shared his insights about the recent meeting in Alaska with US President Donald Trump over the Ukraine conflict. PM Modi said India has consistently called for a peaceful resolution of the Ukraine conflict and supports all efforts in this regard. With inputs from agencies
New Indian Express
06-08-2025
- Business
- New Indian Express
NSA Ajit Doval in Moscow amid rising US pressure over India-Russia ties
NEW DELHI: National Security Advisor Ajit Doval will hold key meetings in Moscow on Thursday with senior Russian officials to discuss defence cooperation, energy ties, and preparations for an upcoming summit here between Prime Minister Narendra Modi and Russian President Vladimir Putin, sources said. Doval arrived in Moscow late Wednesday. The visit comes at a time of growing geopolitical friction, particularly after US President Donald Trump announced an additional 25% levy on India for oil purchases from Russia, raising the total tariff burden on India to 50%, the highest on any US trade partner, along with Brazil. According to the official Russian news agency TASS, discussions will include Russian oil supplies, bilateral defence deals, and broader regional security issues. 'The current escalation of the geopolitical situation will also be discussed,' the agency reported. Top on the agenda will be the delivery timeline of the remaining S-400 missile systems, which played a pivotal role during the India-Pakistan military standoff and Operation Sindoor in May 2025. This marks Doval's first visit to Russia since Operation Sindoor, though he met with Russian officials at the SCO NSA meet in Beijing in June. Another key issue likely to surface is Russia's recent recognition of the Taliban regime in Afghanistan, a move that has implications for India. Doval's visit will be followed by a broader diplomatic engagement, with External Affairs Minister S Jaishankar scheduled to visit Russia in the third week of August for the India-Russia Inter-Governmental Commission (IRIGC-TEC) meeting.
