Cheepek
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You underestimate India-Russia ties and overestimate Russia-China ties.Friends are between equals. It is always the case, both in personal and international relationships.
China and Russia are not equals today. After the invasion of Ukraine, Russia is nothing more than a client state for China. For instance, the Ukrainians have posted videos that show the parts inside downed Russian drones in their territory. Almost all electronics and optical components of the drone are consumer grade electronics imported from US, Japan and China. Now that the other countries have blocked electronics into Russia, with what electronic components will Russia manufacture weapons? Russia's manufacturing industries rely heavily on western technology. With that supply chain completely cut off, Russia will have no other option than to switch to China as long as Putin remains in helm.
This is a tragic geopolitical development for India. I'm sure that the policy makers in GOI are worried at this. Just a matter of time before the realization trickles down to everyone who refuses to admit that Russia is just another client for China in this polarized world.
You don't frame long term policies with a short term myopic view.
As of today, Russia is not a client state of China. I think it would be prudent to wait and see how things go ahead. An erstwhile super power would not want to be dictated by anyone. If Russia is to submit to Xitler, might as well submit to Biden then!
Nonetheless, the development is indeed a setback for India, but it's not something we can't handle. There will be more ups and downs.