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PEER REVIEWED / REFEREED RESEARCH JOURNAL
A Premier Indo-Centric Foreign Affairs Journal Since 1980
India’s Foreign Policy
Decoding Modi-Doval Diplomacy:
37th
Sovereignty, Security & Strategy
Year of Publication
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EDITORIAL
India’s Foreign policy is seeing changes it has never seen before to be a pro-
active one totally pragmatic with India’s development mode as the core focus.
As our Foreign Secretary says, Business is Bread and Butter of Indo-US ties,
it is true for most countries. Business is the face of Diplomacy, international
relations is about selling the arms their countries make, plain simple trade.
War is less business than trade, better returns. Many countries are in the race
to befriend India the only large market for their armament industry. It is a
PEER REVIEWED / REFEREED RESEARCH JOURNAL game changer, till now the Indian defence contract market was sell and go,
today the definition of a Indian defence contract is if you get a contract sell
Volume XXXVIII Number 11 November 2017
some pieces then transfer technology and make the remaining pieces here in
India. No kickbacks. It is a tough negotiation, a game most are getting used to
G . Kishore Babu now and believe, if a country does not transfer technology others will offer
Editor technology and with better terms. India by force will soon develop good
indigenous defence technology with dual use, civilian and military will help
Bhabani Dikshit
Indian commercial interest leap frog into the next generation technologies in
Managing Editor
the sphere.
Some of the issues:
Stuti S. Mandala
The US for the first time is in a fix with India, as it needs India for its
Associate Editor
geopolitical and business needs, so the anger against Pakistan, but how long it
lasts is something we have to see as in the past protecting American interests
WORLD FOCUS takes up every month one Pakistan has skilfully got back into the good books of the US.
international issue and gives an analysis of its various Today Japan is one of India’s closest foreign policy partners giving billions
aspects by persons well known for their
of Dollars in soft long term loans for building Infrastructure, Highways, Roads,
specialisation in the subject. The issues covered are
and Bridges. Japan and India need each other to see that China does not go on
topical or near topical, but of an abiding interest.
its claiming the area it says belongs to it in the South China Sea.
The analysis is simple enough to interest even an
initiate to world affairs, but without sacrificing depth. With China now trying and succeeding in being better than the US in many
The aim is to present an Indocentric view on a ways. China’s wants to be as great as it was in the past with the vast wealth
particular issue currently facing the world. it has today, a challenge to all the countries of the region. Its aggressive foreign
Opinions expressed in the articles are personal views policy, China has border issues with 21 countries, some settled. President Xi
of the author and in no way reflect the opinion of Jinping like Deng before him believes that trade and other issues of mutual
World Focus. The author is solely responsible for interest should carry on while border issues can take their own time to settle.
the contents in his/ her article and the World Focus It can be said that China will do nothing that will affect trade and its exports.
takes no responsibility in this regard.
President Xi Jinping looks at economic power giving him the vision of having
The Contents of this magazine cannot be reproduced a China with the landmass the Qing dynasty had, they built it mostly by
in any form with out prior permission from World
military victory. He also looks at the capture of countries for China by
Focus. Any legal issues pertaining to World Focus
Admiral Zheng ruling much of the nations in the South China sea. The full
will be settled in NCT region of Delhi only.
border India has with China is disputed, 4057- km, with both sides having
Unsolicited articles will not be returned or
their views on the LAC.
acknowledged. World Focus reserves the right to
The way forward is settling issues between us as China will like to close
edit articles for brevity and clarity before publication.
borders and grow trade with India, the world’s largest market.
The intricacies of today’s diplomacy is having understanding of realistic
Edited, Owned, Published and Printed by
G. Kishore Babu from B-49 (Ground Floor), Joshi Colony, I.P. ground levels. A Former spy turned NSA under the guidance of PM Modi,
Extension, Delhi-110092 at Madhav Press, 4857/24, First Floor,
together they have made India proud for their brave diplomatic out of the box
Ansari Road, Dariyaganj, New Delhi - 110002
solutions for India, not done for the last 70 years. We were ignored in
Total number of Pages 148, including Covers Afghanistan once a part of Ashoka’s India, now we are being welcomed to be
part of the Afghan peace process. India’s Ajit Doval who has the implicit
Copy Right : World Focus trust of our Prime Minister Modi, can be best compared to Richard Sorge, the
Our Address: Russian Master spy of Stalin, on whose advice Stalin shifted Russian troops,
World Focus tanks and planes from the eastern front against Japan to the western front
B-49, (Ground Floor) Joshi Colony, against the Germans and saved Moscow from being captured by the Germans
I P Extension and thus began the start of the end of the Second World war. India is forging
Delhi - 110092, India ahead to maintain its Sovereignty, Strategy and Security with the Modi-Doval
Tel. / Fax : 22246905, Mobile No. 8130754555 combine.
Email: [email protected] New Delhi G. Kishore Babu
Website: www.worldfocus.in November 2017 Editor
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Contents
Eurasian Economic Union (EEU) Might Boost Economic Ties With India
Prof. R. G. Gidadhubli..............................................................................................................5
Tibet Factor in Indo-Sino Relations
Prof. P. Lazarus Samraj & Vineeth Thomas.............................................................................11
Decoding India’s Foreign Policy
Prof. Snehalata Panda.............................................................................................................17
Indo-Bangladesh Relations: Challenges and Opportunities
Dr. Alok Kumar Gupta............................................................................................................25
Doklam Perspectives and China’s 19th Communist Party Congress
G. Kishore Babu......................................................................................................................33
The GIS Analysis of Afghanistan Conflict on Central Asian Energy Routes for South Asia
Sudhir Kumar Dara, Sudhir Kumar Garhwal & Ambrish Dhaka...............................................34
Need For Careful Multilayered Rational Foreign Policy towards Bangladesh
Ranjana Mishra......................................................................................................................43
India-Russia-China Strategic Co-Operation: Myth or Reality?
Dr. Deepak Yadav .................................................................................................................47
The ‘Act East’ Policy: Contours of Defence Cooperation and Emerging Partnership
Dr. Mohor Chakraborty..........................................................................................................55
India-China Relations: Avoiding Strategic Arms Race
Dr. Rajesh Kumar ..................................................................................................................62
India’s Foreign Policy in the Age of Narendra Modi: Achievements and Challenges
Dr. Saleem Ahmad..................................................................................................................71
Manipulating Malthus:
A Plausible Way of Moving Beyond the Hyphenated Relations Between India and China
Dr. Arindam Roy ...................................................................................................................78
Indo-US Strategic Convergence and Defence Co-operation under Modi :
Moving Towards Pragmatism
Dr. Pitam Ghosh ....................................................................................................................84
India-China Military Impasse at Doklam Plateau and Its Strategic Implications
Dr. Suneel Kumar...................................................................................................................90
Revisiting New Delhi-Washington Partnership in Donald Trump’s Regime
Dr. Debasish Nandy ..............................................................................................................98
India’s Diplomatic Investments in American Imperium
Dr. Shreesh K. Pathak..........................................................................................................105
India - Japan Growing Strategic Synergy:
A Harbinger of New Era In Indian Foreign Policy
Atreyee Mitra.......................................................................................................................112
Unity in Diversity: A Normative Agenda In the Foreign Policy of India
Shameer M..........................................................................................................................119
The Emerging Contours of China’s South Asia Policy:
Challenges for Indian Foreign Policy
Mahfooz Alam ....................................................................................................................126
India’s Summit Diplomacy vis-à-vis Pakistan, 1998-2004:
Crisis Management or Conflict Resolution?
Pfokrelo Kapesa..................................................................................................................131
Twenty Years of Indo-French Strategic Partnership: A Critical Assessment
Swati...................................................................................................................................136
4 World Focus November 2017
Eurasian Economic Union (EEU)
Might Boost Economic Ties with India
Prof. R. G. Gidadhubli
Eurasian Economic Union which was set up It needs to be mentioned that there are a few
on 1st January 2015 has emerged as a major regional objective factors for these three states to promote
organization comprising of five states namely Russia, the concept of EEU. Firstly, there is geographical
Kazakhstan, Belarus, Armenia and Kyrgyzstan. contiguity between Russia, Kazakhstan and Belarus,
Looking back, credit should be given to the president which gives them an advantage in promoting
of Kazakhstan Nursultan Nazarbaev who in 1994 economic cooperation. Secondly, being part of the
suggested the idea of creating a “Eurasian Union” former Soviet Union, there were certain
during his speech at Moscow State University. In commonalities in economic institutions, structures and
the aftermath of the Soviet breakup when all the relations. Thirdly, despite attaining political
former Soviet republics were passing through the independence after the Soviet break- up, there was a
period of political and economic transformation and fair degree of cordiality in relations even as some
crisis, he was possibly impressed by the role of differences did persist. Fourthly, apart from these
economic achievements of the European Union set objective factors, it needs to be stated that these three
up by West European countries. Moreover, it needs states had already entered into an agreement for the
to be mentioned that while many political scientists Customs Union for promoting economic cooperation,
proposed for further integration towards a monetary, which did bring about some improvement of economic
political, military and cultural union, the concept of ties.
having a purely economic union was realistic having
concerns about keeping their independence and EEU has been functioning through
sovereignty intact. supranational and intergovernmental institutions. The
Supreme Eurasian Economic Council is the “Supreme
Even as the concept was ideal, it took time Body” of the Union, consisting of the heads of member
to materialize since the decade of the 1990s was states. The second level of intergovernmental
turbulent for all the former Soviet republics. Hence institutions is represented by the Eurasian
in 2007 Vladimir Putin during his second term of Intergovernmental Council which consists of the
presidency of Russia not only strongly supported the Prime Ministers of the member states. Apart from
idea of the Kazak president Nazarbaev but also took that administrative functions are carried out by the
initiative for setting up Eurasian Economic Union. He Eurasian Economic Commission which is essentially
was aware of the growing role of the European Union an executive organization. The present Chairman of
in global affairs. It took some time to coordinate and the Eurasian Economic Commission’s Board is Tigran
undertake several measures to convert his idea into Sarkisyan.
reality.
Moreover, the three states realized the need
Hence subsequently on the 18th November to form an institution to take care of legal matters
2011 the then president of Russia Dmitri Medvedev, and thus a judicial body, namely the Court of the
Kazak president Nursultan Nazarbaev and Belarus Eurasian Economic Community was established with
president Alexander Lukashenko signed an headquarter in Minsk the capital of Belarus. The
agreement setting the target of establishing Eurasian objective of this court is to adjudicate economic
Economic Union (EEU) by 2015. It needs to be disputes between the member states. Equally
mentioned that from 1st January 2012 organization important is that EEU has provided the facility of Free
known as Eurasian Economic Space started operating Trade Agreement which is intended to promote trade
facilitating the formation of EEU in 2015 and economic cooperation among the member states
Eurasian Economic Union (EEU) Might Boost Economic Ties with India 5
and those countries that enter into trade agreement Trade Bloc that includes Armenia, Belarus,
with the EEU. Kazakhstan, Krygyzstan, and Russia. It essentially
extends from the borders of China in the East to the
The objective of EEU has been to emerge borders of the European Union in the West.
as a major regional economic organization. In this
regard the Kazakh politicians have emphasized that Constraints and Challlenges
the Eurasian Economic Union is not intended to be a Notwithstanding some achievements in forming the
political bloc, but a purely economic union. This has EEU and creating structures for its functioning, there
been highlighted by the first deputy prime minister of are certain constraints and challenges in the
Kazakhstan Bakytzhan Sagintayev who has been performance of this Organization. As opined by some
candid in stating “We are not creating a political analysts, there are apprehensions as regards
organization; we are forming a purely economic effectiveness in the functioning and performance of
union.” He further stated “it is a pragmatic means to some its institutions such as Customs Union. It was
get benefits. In fact this is the view of all the founder pointed out that some of the decisions taken by the
members of EEU who realized the fact that economic governments at higher level remained on paper and
objectives are matters of significance for their were not implemented. Moreover, there are variations
economic development, for modernization and in the level of bureaucratic control and corruption in
industrialization, for cutting transaction costs and for each of these member states of EEU. Hence as
promoting international division of labor. stated by some analysts, some Russian entrepreneurs
intended to re-register a few hundred enterprises in
It is important to note that EEU, with a GDP Kazakhstan for taking the benefit of lower taxes and
of more than $ 4 trillion and population of more than lesser corruption. In view of this it has become evident
200 million is aimed at economic development of the that the objectives of EEU will be achieved if there is
member states with the formation of a single market considerable uniformity in economic policies being
by coordinating their economic policies and evolved and pursued by member states.
guaranteeing free movement of goods, services,
capital and workforce. To achieve these objectives Secondly, it is opined that while the formation
EEU aims at providing for common policies in of EEU on the lines of European Union is appreciable,
macroeconomic sphere, transport, industry and the experience of European integration may not be
agriculture, energy, foreign trade and investment, relevant for EEU where Russia with its huge size
customs, technical regulation, competition and antitrust and economic and defense potentialities might play a
regulation. It is pointed out that provisions for a single dominant role.
currency and greater integration are envisioned in
the future. Thirdly, while EEU is a supranational body
which would ensure the interest of member states,
Thus this supranational body has potentiality
question was raised by some critics as to the authority
to assume great geo-political and geo-economic
of EEU with third countries. It appears that while
significance in regional and global affairs. In fact this
Russia held the view that the authority was the
objective has been partly achieved. This is evident
prerogative of the Eurasian Supreme Economic
from the fact that trade among these three countries
Council, Belarus insisted that all contracts were to
has increased during the last few years. Moreover,
be agreed at the national level with the preservation
as per reports, Russia has been able to attract skilled
of the nation state’s right to veto. Hence while sorting
and semi-skilled workers seeking employment thus
out such differences had been a challenge before
creating mobility of workforce among the EEU. Apart
EEU was formed, certain challenges might persist in
from that there is already some expansion of the EEU.
the functioning of EEU.
It is important to note that Armenia became a member
of this trade bloc in 2015 shortly after it was formed.
Fourthly, in the opinion of some western
Moreover, Kyrgyzstan has also undergone ratification
analysts, investment climate in Russia had been far
procedures to join the EEU while Tajikistan is
from satisfactory when Putin took over his third term
considering membership. Thus the EEU is a Free
of presidency in 2012 -13. This was partly because
6 World Focus November 2017
Russia had huge petrodollars and policy was taken to which embraces both Europe and Asia could be
increase the share of the Russian State in private expanded to include many neighboring countries
sector companies in energy and other sectors of the including Bulgaria, Mongolia, China etc. As per some
economy. Moreover, situation has been further Russian reports in 2014 India, Iran, Egypt and Israel
affected since Russia has been hit by economic were also negotiating the possibility of forming free
sanctions by the West due to its policy of alleged trade zone agreements with the EEU. In this
take-over of Crimea in 2014. Hence for ensuring background it is worth examining the scope and
sustained economic growth it is necessary for Russia prospects of EEU – India relations.
and members of EEU to create proper investment
climate for attracting capital and technology by the EEU – India Ties
countries which are also interested in promoting trade As stated above, EEU comprises of five countries
and economic relations with the EEU. namely Armenia, Belarus, Kazakhstan, Krygyzstan,
and Russia. At the outset it needs to be stated that
Fifthly, as expected there are critics among India has close and cordial relations with each of
the West about the emergence and moderate success these member countries of EEU. Moreover, they
of EEU. It is opined that the formation of EEU has were part of the former Soviet Union with which
been a part of Vladimir Putin’s intention to revive India had the advantage of geo-political and geo-
Soviet Union. This is an accusation which is far from economic ties for over six decades. Hence there is
reality. considerable scope for India to promote its trade and
economic relations with members of the EEU.
Regional Expansion
EEU has emerged as a regional organization. Hence It needs to be mentioned that in 2015 a
being an economic organization, apart from the former beginning was made during the negations between
Soviet republics, EEU has been attracting many Asian the former Indian Commerce and Industry Minister
countries. For instance, on the 29th May 2015 Vietnam Nirmala Sitharaman and Minister of Trade of the
became the first country to sign a free trade Eurasian Economic Commission Andrei Slepnev to
agreement with the EEU. This agreement has been sign a framework of free trade zone agreement during
a great boom for Vietnam and for Russia which is the St. Petersburg International Economic Forum.
evident from the fact that bilateral trade has increased Hence she rightly stated “The two regions are big,
sharply since the FTA came into effect in early anything done together should naturally lead to bigger
2016. Moreover, Russia has invested about US $ 10 outcomes”.
billion in the projects in Vietnam which will immensely
boost its economy. China which has already emerged In pursuing the policy of the government of
as a major trading partner of Russia and Kazakhstan India, a joint study group was set up headed by a
during the last over two decades and has potentiality Joint Secretary in the Ministry of Commerce who
to play an important role for the success of EEU. had been mandated to study the benefits of joining
Apart from setting up joint ventures, a large number the trade bloc of EEU with the emphasis on enhancing
of Chinese workers have been working in Russia and trade and investment ties with the EEU as also with
Central Asian countries. As per reports about 50 pc the Central Asian countries. In fact India has keen
of Kazakhstan companies cooperate with varying interest to enhance its ties with Russia as also with
degrees with Chinese partners. the Central Asian countries, which have huge oil and
gas reserves and are an important link to Afghanistan.
Considering the benefits that might accrue In this regard as rightly opined by Prof A. K. Pasha
to countries which might enter into FTA with the EEU, of the Jawaharlal Nehru University “India keeps
the Russian Prime Minister Dmitry Medvedev has talking of an Asian century, but we seem to be losing
expressed his satisfaction by stating that around 40 out … we should have taken the lead for Asian
countries were holding talks on some kind of initiatives. This is an opportunity and we must
agreement with the EEU. In this regard Russian proactively associate [with] and contribute [to]. These
political scientist Dmitry Orlov has opined that EEU associations indicate a growing regional growth,”
Eurasian Economic Union (EEU) Might Boost Economic Ties with India 7
There has been considerable progress in this regard.
Russia and EEU.
For instance, as reported by the PTI in March 2017
the trade ministers of India and Russia chalked out a
So far as Russia is concerned as reported by
road map for signing of a free trade pact with the
some analysts it is important that an effort has been
Eurasian Economic Union and take up issues to
made by the two sides to take up the issue of mutual
boost bilateral trade at a meeting held in Chennai.
market access for agricultural and processed food
Both the former Indian Commerce and Industry
products, including dairy products and bovine meat,
Minister Nirmala Sitharaman and her Russian
to widen the range of products for bilateral trade. In
counterpart Denis Manturov addressed the India-
this context several measures, including an agreement
Russia Business Forum after the inaugural function.
on a free trade zone between the EEU and India, is
They also examined the report of the joint study
expected to help increase the bilateral trade with
group on the feasibility of a free trade agreement
Russia to US $ 30 billion by 2025, which stood at
(FTA) between the India and the Eurasian Economic
below $ 10 billion in 2017.
Union (EEU) and decide on the timeframe for
bilateral negotiations and components of the
In this regard as righty pointed out by the
proposed pact.
Indian ambassador to Russia Pundi Srinivasan
Raghavan, India is keen to invest in Russia’s coal
Thus taking all factors into consideration, India
and hydrocarbon projects. At the round table
and the EEU signed the deal on 26th August 2017,
discussion of SPIEF in 2015 he mentioned that India
which was a landmark event in promoting India’s
would make specific proposals on bilateral
trade and economic ties with this region as rightly
cooperation in these sectors. As officially stated by
stated by the Chairman of the Eurasian Economic
Sunil Kumar, Joint Secretary, Ministry of Commerce
Commission’s Board Tigran Sarkisyan. Even as the
& Industry of the Indian government, India stands to
agreement was signed by the trade ministers of India
gain from the free trade pact with Eurasia, as its
and Russia, it was a matter of great significance that
imports from these countries are greater than its
Sarkisyan had met the Indian Prime Minister Narendra
exports to them. There are expectations that exports
Modi in St. Petersburg. He said “We discussed trade
to these countries will increase in the years to come.
and economic relations between the Eurasian
Economic Union and India. We noted with satisfaction
It is worth considering few cases. For
that both sides were interested in signing a treaty of
instance, during the last about two decades,
this kind, and the results of a research into the issue
pharmaceutical products have assumed importance
demonstrate that it will be a win-win situation for
among the India’s export basket to Russia. Major
India and the EEU”.
pharmaceutical companies such as Lupin, Dr Reddy
Labarotaries, Glenmark etc have earned popularity
The signing of free trade agreement with the
in Russia, Kazakhstan etc. for their high quality
EEU might increase trade and economic ties with
products and at the same time more competitive as
India and other EEU member states. Russia is a major
compared to those from the West European countries.
member state among the EEU. Hence it is an
Hence Indian pharmaceutical companies should note
opportunity for India to improve commercial ties with
that the EEU has just regulated its common
Russia as also with other members of EEU as well.
pharmaceutical market which could have immense
Because even as political relations between India and
significance for Indian access to the EEU after the
Russia and other members of EEU are close, cordial
Free Trade Agreement (FTA) has reached a
and consistent, bilateral trade at present remains low
conclusion. This will facilitate in creating a huge
below $ 10 billion. It needs to be mentioned that the
market for Indian medicines in EEU countries. Hence
former Soviet Union was a major trading partner of
apart from exporting medicines, there is scope for
India accounting for about 15 pc of bilateral trade
Indian pharmaceutical companies to set up more joint
which has come down to about 5 percent at present.
ventures with pharma companies of Russia,
Hence there is urgent need and scope to improve
Kazakhstan and Belarus to meet the growing needs
trade and economic relations between India and
of medicines at affordable prices for the large section
8 World Focus November 2017
of population of EEU. This has great relevance since potentiality to play a major role for the countries which
middle and lower income group of population in these enter into free trade agreement with the EEU. In
countries are not able to afford high cost medicines view of this as rightly stated by N. Kuzmin the Kazakh
imported from the West. political scientist and foreign policy expert, “the
proclamation of Eurasian Union is a campaign with a
Similarly, jewelry sector has assumed very powerful symbolic resource”. This might help
importance in bilateral trade. According to some states including India to enhance economic relations
reports Indian companies in the jewelry sector have having entered into free trade agreement with the
expressed interest in the Eurasian Diamond Exchange EEU.
which has been recently opened in Vladivostok. The Looking at regional level, India has an
KGK Group of companies which are India’s largest opportunity to play its legitimate role as regional power
diamond merchants, are spending US$25 million on in EEU relations with South Asia. In this regard the
establishing a facility there. much awaited International North-South
Transportation Corridor should become a reality. This
In terms of size of territory and resource is because apart from India, Iran is also in the process
potentialities, apart from Russia Kazakhstan is a major of concluding its own Free Trade Agreement with
partner in EEU. The ambassador of Kazakhstan Bulat the EEU. North- South Corridor connects Caspian
Sarsenbayev stated at a conference organized by the Sea with the Indian Ocean in which Iran has location
Confederation of Indian Industries (CII) in Chennai advantage and the Caspian Sea borders both Russia
on 26th April 2017 that the signing of FTA by India and Kazakhstan. With India having cordial relations
with the EEU would allow “access” to the market with Iran and other member states of the Caspian
comprising 200 million people and make Indian and Sea, it should be possible for India and Russia to
Kazakhstan companies “work together”. He further ensure that North-South Corridor could become a
added that Kazakhstan is rich in “mineral resources”, reality and operational reducing time by several weeks
and invited Indian IT companies and hoteliers to set and cost of transportation of exports and imports
up shop in his country. According to Sarsenbayev, between India and Russia and Kazakhstan by about
trade between the two countries stood at USD 618 40 pc. India should become an active player and
million in 2016 and main exports from Kazakhstan to increase investment if necessary in ensuring that
India included oil products, metals and natural minerals North-South Corridor will become a reality soon. This
while imports comprise pharmaceuticals, tea and will help economic cooperation between EEU and
tobacco among others. There are expectations that South Asian countries namely India, Sri Lanka,
trade and economic relations will increase with the Bangladesh etc. In fact, this was reiterated by Andrei
signing of this free trade agreement. Slepnev who stated while Russia was entering into
deal with India and Iran “I think that in general this
In fact both Russia and Kazakhstan being whole complex of measures forms a clear picture of
major energy rich countries, the share of EEU so far our priorities for cooperation with partners in the Asian
as global oil and natural gas are concerned will be region, which now have the highest growth rate, and
quite significant accounting for over 12 pc of oil and generally support the global economy”. Thus India
35 pc of natural gas. Apart from hydrocarbon can play a major role in promoting regional cooperation
resources, both these countries are rich in uranium between EEU states and South Asian countries.
which is essential for promoting nuclear energy sector.
India has already been benefitted from the In conclusion it may be stated that EEU has
cooperation of Russia and Kazakhstan in meeting been formed as economic organization with effect
needs of Kudankulam and other nuclear energy plants. from 1st January 2015 comprising of 5 countries
namely Russia, Kazakhstan, Belarus, Armenia and
Moreover, Russia and Kazakhstan are Kyrgyzstan. EEU has potentiality to emerge as a
endowed with huge ferrous and non-ferrous mineral major regional organization by virtue of the large size
resources. Hence from geo-economic and geo- and huge resource potentialities. It has succeeded in
political perspective, Russia and Kazakhstan have forming economic structures and institutions such as
Eurasian Economic Union (EEU) Might Boost Economic Ties with India 9
Customs Union, Free Trade Agreement etc.to evolve agreement with EEU in August 2017. Russia and
as a single market which has facilitated its Kazakhstan are major players in the EEU with which
achievements and objectives. However, EEU need India has wide ranging trade and economic ties
to create conducive investment climate and resolve specially energy, pharmaceutical sectors. Hence
issues such as bureaucratic controls and corruption there is considerable scope for India to set up joint
to attract foreign investment and technology. ventures in pharmaceutical, engineering and IT sectors
with partners in Russia, Kazakhstan and other EEU
EEU has already attracted several countries states to further strengthen trade and economic ties.
in Asia including Vietnam to be part of free trade Moreover, India can be a regional player by actively
agreement. China has been a major economic partner supporting and investing in North-South Corridor and
of Russia and Kazakhstan. India has close, cordial making it reality to reduce cost and time for trading
and consistent relations with all five EEU member with Russia, Kazakhstan and enhance economic ties
states which were part of the former Soviet Union. between EEU and South Asian States.
It is appreciable that India has signed free trade
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