'Visit by President Putin marks crucial juncture in developing economic ties': Yaroslav Lissovolik

Moscow [Russia], December 5 (ANI): The visit by Russian President Vladimir Putin to India can be a milestone in terms of new initiatives and measures, along with the two countries exploring collaboration in areas like IT and AI to correct trade imbalances and realise untapped spheres between Moscow and New Delhi, according to Yaroslav Lissovolik, founder Brics+ Analytics & Member of Russian International Affairs Council.
Yaroslav said that the visit by President Putin marks a "crucial juncture" in the development of economic ties between the two countries.
Speaking about the untapped potential, Lissovolik told ANI that increased cooperation in international fora like the G20 and BRICS reflects a productive cooperation between the two countries.
He noted that to correct the trade imbalances, the two countries can think of possible solutions like, "I think some of the possible solutions include mutual trade liberalization, the possibility to look into greater presence of Indian goods in the markets of BRICS economies- agriculture, pharmaceuticals."
"Another important sphere that hasn't been really targeted to a greater degree before is services and the possibility to cooperate and trade in the services sector- including in areas that have to do with IT, AI related services. This I think that to a significant degree even out these imbalances."
He added, "This summit could be yet another milestone in terms of new initiatives- new measures that are directed at further deepening and broadening this very constructive relationship for the global economy as well, not just for the two sides, but also for the global south and BRICS. I think this is very important that this relationship is developing in the constructive way in which it has been throughout all these years."
Defence sources said the two sides, during the meetings, would also discuss the sale of around 280 missiles of the S-400 air defence systems that were successfully used against the Pakistan Air Force fighter jets and spy planes in May this year.
The project would include around 100 of the 272 of these planes in the Indian Air Force fleet and would be separate from the indigenous upgrade of the 84 Su-30s that would be done by the Indian agencies like the Hindustan Aeronautics Limited, they said.
Another major project for discussion would be the intention to acquire over 300 R-37 air-to-air missiles that can strike targets at over 200 Kms and further strengthen the edge of the Indian Air Force over its adversaries who operate Chinese and American beyond visual range missiles.
The two sides are also expected to discuss the S-400 and S-500 long-range air defence systems that India has been wanting to buy from the Russian side after their huge success in Operation Sindoor.
The Indian side would also want the Russian Almaz Antey to deliver the remaining two squadrons of the S-400 at the earliest and as per the agreed timeframe in the next financial year.
The Verba very short-range air defence system is also likely to be taken up for discussion during the meeting between the two sides at the highest levels.
Earlier while speaking to ANI about the trade ties between India and Russia, ORF Fellow Aleksei Zakharov said, "The trade relationship will be the major focus of this summit and a general attempt to expand economic partnership... The main effort is to identify new avenues for economic ties, facilitate bilateral trade, and introduce mechanisms that will allow Indian exporters to ramp up shipments to Russia and interest in new areas like ship-building and civil aviation".
Four years after their last in-person interaction on Indian soil, Prime Minister Narendra Modi and Russian President Vladimir Putin are set to share the stage once again in the national capital on Friday, a moment that carries both symbolic weight and strategic significance as the world watches two of the most prominent global leaders reconnect, promising more than just a routine diplomacy meet but a recalibration of an old friendship in a rapidly shifting geopolitical landscape. (ANI)