Practices and prospects of political, economic and legal cooperation between Russia (the USSR) and India

The expansion of relations between Russia and India is a relevant and significant issue. It is dictated by the need to improve the economic potential of the Russian Federation and consolidate its position in the world economic and political systems because of the improvement of economic relationship, especially in the face of sanctions. In the authors’ opinion, Russia should cooperate with countries having the long-standing friendly relations with it that can be objectively enhanced in future in the context of mutual supplies. These countries include India. At the present stage of the aggravated competition for commodity and raw material markets and the mechanisms for influencing the pace of economic and technological development of countries, it is pivotal to assess properly the opportunities for the economic Russian-Indian cooperation according to their geographical and economic status, the historical experience of economic relations, their role and place in the global economic system. Nowadays, these countries are involved in the strategic partnership on the basis of the friendly and mutually beneficial relations having developed over seventy years. The research presents and substantiates the areas for further progress in political, economic and legal cooperation between Russia and India upgrading their political and economic relationship.