ABSTRACT
This chapter analyses the various factors responsible for the weak economic ties and the failure to capitalise on the economic potentials offered by both India and Russia. It explores the obstacles in the policy measures undertaken by the two countries. The chapter investigates the establishment of strong economic ties between India and Russia that can enhance the relations manifold. It introspects on India's trade relations with Russia in order to develop a long-term prospective economic partnership. Economic development will be one of the key factors in determining India's national priorities and its strategic vision of playing an influential role in international affairs. The India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation is the institutional mechanism to review economic cooperation. Indian Multinational Corporations have ventured into foreign investments by acquiring companies and establishing operations in countries like the US. Even development of the telecommunications infrastructure can be explored as it depends heavily on foreign funding and joint ventures.
