India, China, Russia: Money, Oil and Business (and a feint voice in the background)

India may just be swinging to BRICS. On a different note, we may say India is competing and working hard to get the I in BRICS back, since we’ve given that I to Iran and Indonesia.

Some details are from S L Kanthan in this story that reads like the Christian story of The Prodigal Son being welcomed home:  Other details are from Russia, with love.

From rivals to allies! India and China are redefining their relations and forging a future of strategic harmony.

Chinese FM Wang Yi just met with Indian PM Modi, who will be going to China in 2 weeks.

The change in diplomatic language is remarkable:

The change in diplomatic language is remarkable: https://t.co/DZSjHKdT1d

— S.L. Kanthan (@Kanthan2030) August 20, 2025

Just look at the stunning events that have transpired over the last few months.

Indian and China are now working on finalizing the border… and ending the decades-old disputes! The demarcation project will not be easy, but is extremely promising.

India’s defense minister, foreign minister and national security advisor have been to China for talks; Chinese FM Wang Yi came to India this week for the first time in three years; and PM Modi is all set to go to China for the SCO Summit.

Indian pilgrims visited Tibet a month ago after a ban for five years; both countries have relaxed visa restrictions; and land trade is about to begin again. China has also agreed to ease exports of rare earth magnets and fertilizers to India.

Finally, militaries of both countries have done an excellent job in stabilizing the border and creating the optimal conditions to avoid conflicts in the future.

Smart politics listens to economic concerns. And the #1 driving force behind the India-China rapprochement is the business community.

Indian conglomerates such as Reliance, Adani Group and JSW group are actively working with Chinese corporations to create joint ventures for EV, batteries, solar panels, auto parts, e-commerce and so on.

Trade is not only good for the economy, but it builds trust.

This is a win-win opportunity. Indian corporations need certain technologies from China; and Chinese companies are eager to enter the Indian market – especially due to the headwinds from the US tariffs and sanctions.

Inevitable geopolitical conflicts for India and China.

There are inherent collisions of spheres of influence for the two Asian giants. The borders in the Himalayas, for example, are going to be difficult to resolve.

Then there is Pakistan, which is strategically important for China, but creates persistent problems for India.

In other neighboring countries like Sri Lanka, Nepal, Bangladesh and Bhutan, there are struggles for influence. China needs to be sensitive to India’s concerns.

Similarly, India needs to rethink membership in QUAD, which is aimed at containing China.

These are not easy problems to resolve completely, but can be managed with sincere dialogues.

The India-China partnership has the potential to drive shared success. The synergy across the borders can unlock win-win opportunities in a new era of symbiotic cooperation. Of course, there can be friendly competition in technology, trade, diplomacy, soft power etc., but both parties must be careful to avoid conflicts.

As Indian Prime Minister Narendra Modi tweeted: “Stable, predictable, constructive ties between India and China will contribute significantly to regional as well as global peace and prosperity.”

We will see over the next year or so how the leadership of the power duo handle this wonderful opportunity to reset the relations and embrace a journey of harmony and solidarity.

In Russia, FM Sergey Lavrov will hold talks (https://mid.ru/en/foreign_policy/news/2042103/) with Minister of External Affairs of the Republic of India Dr. Subrahmanyam Jaishankar in Moscow.  Following is the Russian MFA Press Release before the talks.

Russia and India have developed a special privileged strategic partnership based on mutual trust and respect.

The core spheres of cooperation between our two countries include efforts to step up political dialogue in both bilateral and multilateral frameworks, as well as ensuring that agencies in charge of economic and financial matters, energy, arms manufacturing, science and culture work more closely together.

Russia’s and India’s Foreign Ministers will pay special attention to the current and future avenues for promoting bilateral cooperation. They will also discuss the schedule for future contacts.

The meeting’s agenda will focus on facilitating the emergence of transport, logistics, banking and financial links and chains that would be immune to any adverse pressures from unfriendly countries, while also increasing the use of national currencies in their mutual settlements.

Expanding cooperation in transport, energy, agriculture, science and technology will also be on the meeting’s agenda.

The Ministers will also coordinate their positions on the latest international developments, paying special attention to interactions within the #UN, #BRICS, the #SCO and the #G20.

The substantive exchange of opinions between the two officials will also include topics related to shaping a security architecture with greater justice for all in the Asia-Pacific Region, as well as the situation in Ukraine and Afghanistan, and the Israeli-Palestinian conflict.

Moscow and New Delhi view multipolarity as a core factor for maintaining balance of the world order that has taken shape over the past decades.

Russia focuses on building an inclusive political and economic system and promoting a positive agenda while maintaining constructive interstate dialogue.

But here is the KICKER news: Russia & India shift 90% of payments to national currencies: Deputy PM Manturov

Update with new numbers:  Russia-India trade turnover surged 700% over past 5 years, India is now in the TOP 3 of Russian trading partners, says Russian Deputy PM Denis Manturov after meeting with India’s top diplomat Subrahmanyam Jaishankar

Far off in the background, somebody is going a little bananas – This crazy bird called Bessent does not like any of this:

RUSSIA-INDIA ALLIANCE DRIVES BESSENT CRAZY

US Treasury Secretary Scott Bessent has accused India of “unacceptable” profiteering for buying discounted Russian oil and reselling refined products globally.

India’s Russian oil imports rose from 1% to 42% of its total

Estimated $16 billion in “excess profits”

Bessent calls it “Indian arbitrage” – a scheme that “sprang up” during the conflict

While the US pushes costly sanctions that hurt European allies and global markets, India has secured affordable energy and strengthened its economic sovereignty.

India refiners buy more, and the world goes on while Bessent’s whining disappears into the background noise.  Nobody even cares and that is how it should be.  Go BRICS!