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- During the Cold War, India and the Soviet Union (USSR) enjoyed a strong strategic, military, economic and diplomatic relationship.
- After the collapse of the USSR, Russia inherited the close relationship with India, even as India improved its relations with the West after the end of the Cold War.
- India is the second largest market for the Russian defense industry. In 2004, more than 70% of the Indian Military's hardware came from Russia, making Russia the chief supplier of defense equipment. More recently, the defense relationship has been strained due to repeated price escalations by Russia over the sale of the aircraft carrier, INS Vikramaditya, the delays in delivery of critical defense equipment and the elimination of the Mikoyan MiG-35 from the Indian MRCA competition.
- India has an embassy in Moscow and 2 Consulates-General (in Saint Petersburg and Vladivostok). Russia has an embassy in New Delhi and 4 Consulates-General (in Chennai, Hyderabad, Kolkata, Mumbai).
- The major Indian exports to Russia are pharmaceuticals; tea, coffee and spices; apparel and clothing; edible preparations; and engineering goods. Main Indian imports from Russia are iron and steel; fertilizers; non-ferrous metals; paper products; coal, coke & briquettes; cereals; and rubber. Indo-Russian trade is expected to reach US$10 billion by 2010.
- The Russian company Gazprom and Gas Authority of India Ltd. have collaborated in joint development of a block in the Bay of Bengal.
- Kudankulam Nuclear Power Project with two units of 1000 MW each is a good example of Indo-Russian nuclear energy cooperation. Both sides have expressed interest in expanding cooperation in the energy sector.
- Chandrayaan-2 is a joint lunar exploration mission proposed by the Indian Space Research Organisation (ISRO) and the Russian Federal Space Agency (RKA) and has a projected cost of 425 crore (US$90 million). The mission, proposed to be launched in 2013 by a Geosynchronous Satellite Launch Vehicle (GSLV) launch vehicle, includes a lunar orbiter and a rover made in India as well as one lander built by Russia.
- The ongoing cooperation in the field of science & technology, under the Integrated Long-Term Programme of cooperation (ILTP) is the largest cooperation programme in this sphere for both India and Russia. Development of SARAS Duet aircraft, semiconductor products, super computers, poly-vaccines, laser science and technology, seismology, high-purity materials, software & IT and Ayurveda have been some of the priority areas of co-operation under the ILTP.
- The "North-South" Transport Corridor Agreement [INSTC] has been ratified by all the three original signatory states, viz. India, Iran and Russia. This route is expected to reduce the cost of movement of goods between India and Russia and beyond.
- The "Year of Russia in India" was held in 2008. It was followed by the "Year of India in Russia" in 2009. There is a Hindi Department, in the University of Moscow.
- On international terrorism, India and Russia agree that there is no justification for terrorism, and this must be fought against, without compromise and wherever it exists. Russia has supported the Indian draft at the UN on Comprehensive Convention on International Terrorism [CCIT]. Both Russia and India have faced the problem of terrorism, India has seen it in the context of its military presence in Kashmir and Russia has seen it in Chechnya and both the countries are supportive of each other on the issue of terrorism.
