Indo-Soviet economic relations

In: Regional studies: quarterly journal of the Institute of Regional Studies, Islamabad, Band 4, Heft 3, S. 81-114

Abstract

The study deals with the growth of successful Indo-Soviet economic cooperation, in spite of the differences in their political systems. The convergence of their foreign policy interests has led to the attainment of a high level of mutual dependence based on India's intrinsic economic and military needs and the availability of Indian support to the Soviet role and policies in the world affairs, particularly in the context of Asia/Pacific region. The arrangement of all transactions through nonconvertible currency payment coupled with Soviet appreciation of the progressive indigenisation of Indian industry and defense production has benefitted India the most. The relationship, nevertheless, is not free of strains, particularly those emanating from India's quest for "hi-tech" and capital from the West. The congruence of political interests, however, is likely to continue underwriting the relationship in future. (Internat. Polit. Science Assoc.)