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The current state and prospects for the Russia-India cooperation in high technology industries

Vol. 23, Iss. 5, FEBRUARY 2017

PDF  Article PDF Version

Received: 2 December 2016

Received in revised form: 16 December 2016

Accepted: 11 January 2017

Available online: 17 February 2017

Subject Heading: CHALLENGES OF GLOBALIZATION

JEL Classification: F5

Pages: 292-308

https://doi.org/10.24891/fc.23.5.292

Gusakov N.P. Peoples' Friendship University of Russia, Moscow, Russian Federation
gnp45@mail.ru

Konovalova Yu.A. Peoples' Friendship University of Russia, Moscow, Russian Federation
konovalova_yua@pfur.ru

Subject The article addresses the cooperation between Russia and India in high technology sectors, taking into account the import substitution policy proclaimed by Russia and the new round of economic reforms in India.
Objectives The purpose of the study is to reveal priorities of and prospects for the Russia-India cooperation in hi-tech branches of economy.
Methods To investigate the specifics of the said cooperation, we applied methods of analysis, synthesis and induction.
Results We identified the key features of the Russia-India cooperation in high technology sectors. Our analysis unveiled major areas of cooperation in the most promising hi-tech industries of the two national economies and prospects for further relationships. The most desirable spheres of cooperation are oil and gas, nuclear power, and pharmaceutics.
Conclusions and Relevance Taking into account some aspects of the Indian economy such as the current policy of modernization, growth of population and the middle class, the Russian-Indian gas and oil cooperation has a stimulus to develop. The proven experience of major Indian national initiative ‘Make in India’ can be used by the Russian Federation to modernize the national economy and involve foreign investment.

Keywords: high technology, industry, national interests, innovation

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