By Soumya Bhowmick and Andrea Stauder

BRICS and Beyond: A Legacy of Strategic Partnership

As the global strategic and economic alignments continue to evolve, the BRICS (Brazil, Russia, India, China, and South Africa) bloc has solidified its status as a significant platform for emerging economies. The expansion of BRICS into the ranks of the resource-rich economies of Egypt, the United Arab Emirates (UAE), and Iran has further consolidated the bloc’s economic clout. Through facilitating economic cooperation and providing alternative forums for outreach on the global stage, the extended BRICS now accounts for approximately 45 percent of the global population and 30 percent of the global Gross Domestic Product (GDP).

India’s historic relations and common strategic interests with Russia continue to be the cornerstone of its participation in BRICS. This relationship built up in the Cold War years, with the erstwhile Soviet Union, has undergone a revolutionary transformation, most significantly in the aftermath of the Indian Liberalisation, Privatisation, and Globalisation (LPG) reforms in the 1990s. Economic transformations and geopolitical concerns aside, the 2024 BRICS Summit reiterated the solidity of Indo-Russian cooperation in priority sectors, including energy, commerce, infrastructure, and financial integration.

India’s historic relations and common strategic interests with Russia continue to be the cornerstone of its participation in BRICS.

Since 2006, BRICS has been a significant platform for Indo-Russian cooperation on global finance and security issues. Following the increase of Western sanctions, Russia has been looking increasingly towards BRICS as a gateway to alternative economies, with India utilising the platform to project its strategic autonomy by balancing between Eastern and Western partners. However, unlike China and Russia, who view BRICS as a counter-Western bloc, India does not view the grouping as anti-Western. New Delhi considers BRICS a platform to advocate for a multipolar world order, achieve greater representation for emerging economies, and promote balanced global governance.

Trade, Energy, and Security: Economic Pillars of Indo-Russian Ties

As key BRICS members, India and Russia advocate for more substantial representation of emerging economies in global institutions such as the International Monetary Fund (IMF), the United Nations (UN), and the World Bank. Economic ties between the two countries have strengthened considerably, with India emerging as Russia’s second-largest trading partner in the wake of the Russia-Ukraine war. With bilateral trade increasing 1.8 times from 2022, total trade between India and Russia reached US $65 billion in 2023, positioning Russia as India’s fourth-largest trading partner, even though trade imbalances continue to pose challenges.

India’s increased reliance on discounted Russian oil aligns with BRICS’ broader push for de-dollarisation and strengthened South-South economic cooperation. Additionally, Indo-Russian defence ties have also long been a pillar of their bilateral relationship. Russia remains India’s most prominent defence supplier, accounting for 36 percent of total arms imports in 2023. Regular military exercises such as INDRA, AVIA INDRA, and INDRA NAVY enhance operational synergy.

Geopolitical Crosswinds: India, Russia, and the Future of BRICS

From Moscow’s perspective, the Indo-Russian relations are peculiar. China is Russia’s primary trading partner, both for imports and exports, while India ranks second for Russian exports but is not even in the top 20 for Russian imports. Trade has grown substantially since the war in Ukraine, as has their nuclear cooperation and Russian oil exports to India, which increased from less than 2 percent of India’s total oil imports before the war to over 40 percent by June 2024.

However, Russia struggles to maintain India’s dependence on its arms supplies. While Russia accounted for 76 percent of India’s arms imports from 2009–2013, this figure fell to 36 percent between 2019–2023. The ‘Make in India’ strategy and India’s efforts to diversify arms sources aim to reduce dependence on Russian exports. This presents a significant challenge for Moscow, as India remains the largest recipient of Russian arms.

Rooted in historical ties from the erstwhile Soviet Union era, the Indo-Russian relations remain positive. Russian Prime Minister Vladimir Putin and his Indian counterpart, PM Narendra Modi, have met 17 times in the past decade, and discussions about visa-free travel are ongoing. Beyond India’s diversification of military supplies, the key issue that remains is ideological. Modi’s multi-alignment and non-Western strategy contrasts with Putin’s anti-Western approach. India is also distancing itself from non-Western multilateral forums where Russia plays a prominent role, such as the Shanghai Cooperation Organisation (SCO) while focusing on traditional platforms like the G20.

China’s increasing dominance within the bloc, the economic sanctions on Russia, and India’s evolving multi-alignment strategy introduce challenges that require diplomatic finesse.

Despite these challenges, Russia and India remain strategically intertwined. First, India’s multi-alignment approach positions it as a potential mediator in the Ukraine conflict. Second, New Delhi must balance China’s growing influence, as Beijing’s ‘no limits friendship’ with Russia strengthens China’s position, not only within the BRICS – a scenario even the Kremlin seeks to avoid. Diversifying its relationships is key for Russia, and India offers a valuable alternative to Beijing. India could play a key role in facilitating Russia’s reintegration into the international community, championing multi-alignment as a cornerstone of the emerging multipolar order.

Hence, India and Russia must navigate the persisting complexities within BRICS. China’s increasing dominance within the bloc, the economic sanctions on Russia, and India’s evolving multi-alignment strategy introduce challenges that require diplomatic finesse. While India values BRICS as a mechanism for shaping a multipolar world order, it remains cautious of Russia’s deepening ties with China.

Finally, the India-Russia partnership remains crucial as geopolitical tensions reshape international relations. The Russia-Ukraine war, Indo-Pacific security dynamics, and rising global protectionism under Trump 2.0 continue to influence their bilateral engagements. While Russia seeks deeper economic integration with India to offset Western sanctions, India maintains its strategic autonomy, balancing its ties with the United States, Europe, and the Quadrilateral Security Dialogue (QUAD) countries. This diplomatic balancing act ensures that both nations can navigate shifting power dynamics while advancing their strategic interests.

Soumya Bhowmick is a Fellow and Lead, World Economies and Sustainability at the Centre for New Economic Diplomacy (CNED) at the Observer Research Foundation.

Andrea Stauder is the Europe Analyst at Bloomsbury Intelligence and Security Institute (BISI) and a former Research Trainee, in Europe and Global Governance, at the Italian Institute for International Political Studies (ISPI).

Observer Research Foundation