Oct 18, Kathmandu- Indian Prime Minister Narendra Modi is set to travel to Russia to participate in the upcoming BRICS summit next week. The conference, scheduled to take place in the Russian city of Kazan from October 22 to 24, is expected to address global issues and foster cooperation among the member states.

BRICS, formed by Brazil, Russia, India, China, and South Africa—five significant emerging economies—has expanded to include Iran, Egypt, and the United Arab Emirates. While not an official member, Saudi Arabia has been actively involved in BRICS activities.

India has maintained amicable relations with Russia for an extended period, despite its strong security alliance with Washington and other Western nations. This balanced approach towards both Moscow and Western countries has led India to refrain from opposing Russia's actions in Ukraine. Furthermore, India has expressed its willingness to facilitate mediation efforts aimed at achieving a peaceful resolution to the conflict between the two nations.

Modi visited Moscow last July. Russia plays a significant role as a supplier of oil and military equipment to India. However, Moscow's distancing from the West and its increasing relationship with Beijing have led to concerns regarding its collaboration with New Delhi. Additionally, the conflict in Ukraine has compelled India to seek alternative sources for military supplies.

India has become a reliable major buyer of Russian crude oil for the essential export market left behind by traditional buyers in Europe. It is believed that this has dramatically strengthened their financial relationship. Apart from that, it has helped India to strengthen Moscow's war fund.