Managing Partner of Rusatomcapital
Moderator:
00:00:00 — Well, now allow me to invite Vladislav Vladimirovich Gershkovich, a global investor, entrepreneur, and visionary. The floor is yours.
Speaker:
00:00:13 — Thank you. Let’s just say that while studying at the Phys-Tech institute, I felt I was lacking a bit in culture.
00:00:29 — And when I read, at a rather young age, works like the Bhagavad Gita as it is, the Bible, and also The Story ofMy Life by Mahatma Gandhi, I came across a phrase spoken a couple of hundred years ago, and how relevant it is today! It went like this:
00:01:00 — “We will be destroyed by politics without principles, pleasure without conscience, wealth without work, knowledge without character, business without morality, science without humanity, and prayer without sacrifice.” If you think about it, we—meaning humanity—have reached a point where these words are essentially becoming definitive for us.
00:01:29 — We stand at a civilizational crossroads; everyone feels this. Everyone talks about technology, about physical technologies—energy technology, logistics, manufacturing. But everyone forgets the three types of technologies that fundamentally determine humanity’s future.
00:01:59 — These are the technologies we must now immerse ourselves in and develop. If we don’t, we will just be running in circles and will have no future. These are social technologies (sometimes called humanitarian technologies), governance technologies, and the technology of ethics and morality, which determines why and how we do things.
00:02:35 — The second group of technologies are the cognitive technologies—how we think, what we think about, the processes and words we use.
00:03:00 — The third level is called the transcendent or divine. These are the technologies involved when a person asks themselves: Who are we? What are we? Where are we going? Why are we here? Finding answers to these questions is what makes a person whole.
00:03:00 — We see that the capitalist model, which has developed us—humanity—quite successfully in terms of physical technologies and effectively motivates people to produce food, bread, and the physical technologies that allow us to survive, has its limits.
00:03:42 — There are, for instance, quite well-known thought leaders in the West, like Elon Musk and Peter Thiel, who lecture about the future, but their vision still lies primarily in the realm of physical technology.
00:04:04 — And we see how this exclusive focus on physical technologies leads us into a dead end, leaving us unsure of where to go next. We keep saying that if we consume more—have three cars instead of two, three apartments instead of one—we will be happier. Those who have three apartments and three cars, I think, have not become truly happier and feel that something is missing.
00:04:33 — Therefore, we stand at a civilizational transition where humanity must define the next stage. And we understand that this next stage can only be formulated by civilizations that have done so before. In this regard, Russia and India stand quite close. They are two civilizations that have consistently forged meaning based on the synergy of cultures and other civilizations.
00:05:06 — They have not been known for ruthlessly and systematically destroying other cultures and civilizations. Formulating these new paradigms takes a long time; it involves shaping new people and new generations. In this regard, I agree with the previous speakers that we need plans for 10, 20 years, but also for 50, maybe even 100 years.
00:05:40 — Physical technologies are sufficient to drive development for 10-20 years, but they are not enough to develop people. Shaping a human being takes 25 years. In this sense, Russia has, of course, lost the powerful momentum it had at the beginning of the 20th century when the population of the Russian Empire was 160 million and India’s was 180 million.
00:06:10 — In 1880, Dmitry Ivanovich Mendeleev made the following prediction: for Russia to hold its ground by the end of the 20th century, its population should be about 600 million people. A hundred years have passed, Russia’s population barely reaches 150 million. We are in a state resembling a dying Western civilization, like ancient Rome, where women don’t give birth, don’t want to, there are no children—there is no one to create the next generation.
00:06:49 — India, in this respect, has undergone a rather successful civilizational transition. It now has almost 1.5 billion people, with a very young median age.
00:07:05 — It is one of the youngest civilizations in terms of its people. This creates immense potential for the future. We are very similar to this civilization.
00:07:20 — Although, when you talk to Indologists or Russians who have visited India, they say India feels very exotic to a Russian. They perceive not the whiteness and freshness you find in Russia after a snowfall, but rather the sand and that natural state where life thrives vibrantly in the streets, because it is, after all, tropical, subtropical, equatorial—it’s a profusion of life.
00:08:11 — And so, we find ourselves in this state of transition. By the way, it’s a good thing that Western civilization is preoccupied and doesn’t know what to do next, while still thinking of itself as the leader. This gives us a chance—a chance not to be consumed, not to be turned into a mere resource, but to use all our resources for the development of our civilizations and for humanity jointly.
00:08:46 — Therefore, by jointly developing these three types of technologies—which humanity has somewhat neglected, let’s say—with India and Russia,
00:08:59 — while continuing to develop physical technologies as well (energy, manufacturing), because without a material base, dreaming of the stars is difficult too (though possible), then we will secure a future. The future always exists; the question is, what kind?
00:09:29 — So, in a way, Russia and India are fortunate. It’s true what they say about the role of the individual in history: when a country is led by a leader who identifies with the country, associates themselves with its successes and its culture, then that country has a future.
00:09:57 — Accordingly, we see two countries led by two leaders who see this future and are ready to participate in it. And if we talk about opportunities, business strategies, and cultural strategies, we still have much to do, and that’s a good thing. But the most important task is to finally ask ourselves the questions from these three groups of technological challenges.
00:10:35 — Who are we? What are we? Why are we here? Where are we going? And I think that over the next, I would even say not 10-20, but 50-100 years, our civilizations will essentially become the foundation for formulating meaning for humanity, and perhaps we will manage to play a part in this.
00:11:03 — And along the way, we will produce everything necessary for it. Yes, right now we complain about our cars, we complain about our technologies, but I believe we will overcome this.
00:11:18 — We have thinking people, people who are ready to create existentially, to think existentially. The material aspects will follow. You don’t need many people to build things, but you need many people to think.
00:11:44 — Therefore, I propose and urge you: if you want to participate, there is much to be done, much to be created. The work is endless, and all the difficulties we encounter along the way exist solely so that, by overcoming them, we can create something new.
00:12:13 — I won’t cite numbers; many economic figures and GDP statistics have been mentioned here. Instead, I’ll mention a cultural peculiarity I sometimes talk about. It’s a bit phantasmagorical. Ajay said Indian culture is about 5-7 thousand years old. We in Russia know we currently live by the Gregorian calendar; before that, it was the Julian calendar; and before Peter I’s reform in 1700, we lived by the Old Slavic calendar.
00:12:58 — Well, according to that Old Slavic calendar—the one with the Vedas, the Magi, everything connected with the old Slavs, whom some call pagans—it is now the year 7533 since the Creation of the World in the Star Temple.
00:13:10 — The Old Slavic alphabet had about 148 characters, which included Sanskrit, Greek, and many other scripts. I mention this because our connection with the Hindus—however it happened seven and a half thousand years ago—is profound. In India, Hindus consider themselves Aryans, the Bharati are the tribe of Aryans, and the Old Slavs were also Aryans.
00:13:57 — Accordingly, in India, they consider us Aryans as well. And who do we consider ourselves to be? We consider ourselves Russian.
00:14:09 — ‘Russian’ is also a complex culture. Therefore, I would say that our two cultures and civilizations have a great future, and along the way, we will create everything we need. And within the Russian and Hindu traditions, we will find meaning for all of humanity and save them. Thank you very much.
Moderator:
00:14:36 — Thank you very much, Vladislav Vladimirovich.
Vladislav Gershkovich’s Answer to the Moderator’s Question
00:00:00 — As they say, I was asked not to speak about this, but I will say it anyway. In 1991, the country we loved, the Soviet Union, passed away. It had been ailing for a long time, but it finally faded into history. And, essentially by arrangement with our American colleagues, we very quickly buried everything that was dear to us and became a quite successful
00:00:34 — raw materials colony for the Western economy. We actually tried to do this four times. The 20th century was the most successful attempt; we were very successful at destroying our own science, our engineering schools (I’m talking about Russia), our cultural heritage, and it seemed to us that this was helping us become part of the Western world.
00:01:09 — Zbigniew Brzezinski wrote in his work The Grand Chessboard that if the West had implemented something akin to the Marshall Plan by 1993, Russia would have become part of Western civilization, just one more brick in the wall, like Germany, or who else did they castrate? Italy.
00:01:34 — It’s a good thing they failed, and by 1995 it was too late, and in principle, it’s still too late now. And the only thing preventing us from acting independently, let’s say—as many quite senior Indian managers from large corporations have complained to me—
00:01:59 — is this: “We can’t reach an agreement with the Russians; we don’t understand them. But if we inform our colleagues from JP Morgan or Goldman Sachs in London and New York, the Russians agree to everything by the next day.” This is a problem with our mindset: we are not entirely independent and don’t fully understand what we need ourselves, thinking in terms, let’s say, programmed by
00:02:28 — Western civilization, which tells us we are a service country, that only our resources are needed. If we recall Yegor Gaidar, and Chubais, and Kudrin, who said: “Why should we produce anything if we can sell oil and buy what we need? Airplanes, IT technologies, and so on.”
00:02:49 — And today, I feel a profound sense of gratitude towards our Western partners for forcibly disconnecting us from their system. Of course, we desperately want back in; it’s like an old, festering pain. But they are strenuously keeping us out. I am genuinely thankful to them and believe we should eventually erect a monument to them for this, because through sanctions and restrictions, they are forcing us to think for ourselves, they are forcing us to make independent decisions and to develop interaction with India.
00:03:30 — This, I would note, is our obvious, self-evident independent decision: that we can collaborate together. But everyone is right; despite the cultural differences between us, what unites us is precisely this Western-imposed code.
00:03:49 — And for us to enter the next era together, we need to remember who we are, why we are here—that is, who are we, the Russians? Because the Hindus, in a sense, also forgot at times, but they fought long for their culture, for their Hinduism. In the West, by the way, Modi’s party is called Hindu fascists. But the only thing fascist about them is the cross, the swastika, a symbol of the sun, which the fascists used.
00:04:21 — So, the possibility of working with India lies solely in our own minds. We can talk endlessly about its potential, but speaking of Hindus, I’ll say this: It is practically impossible to provoke aggression in a Hindu, except under very specific circumstances.
00:04:46 — If a Hindu cannot, for some reason, give you an answer or do something for you, he will simply disappear. You won’t find him. So, if you want something from him, you should tell him straight away: “It’s better if you just tell me you can’t, just tell me, but please don’t run away.” Because they have Eastern traditions; they want to satisfy you all the time, they want
00:04:59 — you to be happy. They want you to love them. Even when I was traveling around India and encountered crazy tuk-tuk and taxi drivers, my guide told me: “Listen, in India, if he drives fast, he wants to show you that he’s a professional, that he has the skill.” Why do they also talk fast and try to explain things? Because when they do something quickly, they feel they are demonstrating their professionalism to you.
00:05:43 — Therefore, when we understand their culture, we can move forward. When they understand our culture, we can move forward. So, we have a long journey ahead of understanding each other. And as everyone has rightly said, together we will make progress, but alone it will be difficult for us. Therefore, in a sense, we have no way out.
00:06:12 — So, thank you to our Western partners, thank you to our current situation, because it means we will finally start moving, and everything will be wonderful for us. Thank you.
Researcher of Indian Philosophy and Culture
Key Conclusion: The future of human civilization is seen in the cooperation between Russia and India, founded not on transient gain, but on the solid bedrock of shared spiritual values and historical kinship.
Chairman of the Council for Digitalization and Artificial Intelligence Development, BRICS International Development Organization
Key Points from the Q&A Session:
Vice Chairman of the Foreign Economic Activity Council, Russian Chamber of Commerce and Industry; Senior Co-Chairman of the Investment Council under the Commissioner for Entrepreneurs’ Rights Protection of Moscow
1. Underutilized Resources and Foundation
A solid yet underappreciated foundation for cooperation, established during the Soviet era, exists. This includes thousands of Indian graduates from Soviet and Russian universities who have maintained ties and can serve as a “bridge” for business.
India is a grateful nation that remembers the assistance provided by the USSR, creating a uniquely positive historical context that distinguishes it from other partners.
2. The Critical Importance of “Soft” Factors: Culture, Education, and Personal Contacts
Culture and education are decisive for the success of economic cooperation. Without understanding a partner’s culture, history, and mentality, it is impossible to build long-term connections.
Personal human contact is an absolute necessity. This is characteristic not only of India but of the entire East. Business is built on trust and personal perception of a partner. Email correspondence or one-off trips are insufficient.
Friendship between peoples and individuals forms the basis for sustainable interaction between countries, which always have their own national interests.
3. The Need for a Realistic Approach and Promotion
A shift is needed from overly optimistic “cheerleading analysis” to a deep and realistic assessment of each other’s market strengths, weaknesses, and opportunities.
Russia significantly underestimates the need to promote its own image and brands in India. Without active work in this area, commercial success will be limited.
Paradoxically, sanctions have served as a stimulus for the development of Russian production, highlighting the importance of self-reliance and drawing strength from one’s own culture.
Deputy Director of the Media Research and Analysis Directorate, Rossiya Segodnya Media Group
Internships: Such exchanges and joint work “in the field” broaden horizons and enable the creation of new, co-produced content that will be relevant to both audiences.
Executive Director of the Indian Business Development Center, Sberbank PJSC
SME and Startup Engagement: Thanks to platforms like this forum and Sberbank’s proactivity, young companies and startups are also actively showing interest in India.
Corresponding Member of the Russian Academy of Arts
Joint Exhibition Concept: Support was expressed for the idea of a joint exhibition showcasing the mutual perspectives of the two cultures on each other. Such an “inside view” (from artists working within the other country) could be particularly valuable, revealing new, non-obvious insights for perception, including for the business community.
Business Ambassador of Delovaya Rossiya to India, Head of the India Committee of the Association of Importers and Exporters
Key Conclusion: Success in India requires not financial or administrative support, but a deep immersion in the culture, a willingness to build long-term personal relationships, and a fundamental revision of one’s business approach.
Director of the Laboratory, Autonomous Non-Profit Organization “Agency for Strategic Initiatives to Promote New Projects”; Deputy Dean of the Faculty of International Relations and Business, Russian Presidential Academy of National Economy and Public Administration (RANEPA)
Answer to the moderator’s question on the most relevant technologies for India:
Summary of Q&A (Dmitry Piradev, Skoltech)
Question/Suggestion:
Speaker’s Response:
An open invitation for collaboration was extended to Skoltech as a key stakeholder in this field.
Professor, Doctor of Social Sciences, Head of the “Eastern Perspective” Business Education Program Pool, National Research University Higher School of Economics (HSE)
The key to success lies in combining investments in relationship-building with having a clearly defined, structured project with measurable results.
Director of Export Policy and Analysis, Russian Export Center
1. About the Russian Export Center (REC)
The REC is a state development institution part of the VEB.RF Group.
Key Mandate: Supporting non-commodity and non-energy exports, which have the highest multiplier effect for the economy.
The REC Group offers comprehensive support at all stages through its subsidiaries:
EXIAR (exiar.ru): Export contract insurance.
Roseximbank: Preferential and subsidized lending.
REC Export School: Educational products and webinars, including on the specifics of the Indian market.
2. Potential for Cooperation with India
Historical and Civilizational Foundation: A powerful base established in the 20th century and shared cultural roots create a solid context for interaction.
Specific Niches: Huge potential for Russian IT solutions and smart city technologies against the backdrop of India’s active urbanization.
Support Volume: In 2025, the REC supported about 1,000 companies in their work with India, totaling approximately $0.5 billion.
Low Base: Non-commodity exports constitute only ~1/10 of total trade, opening opportunities for manifold growth (doubling, tripling).
3. India’s Competitive Advantage and How to Leverage It
India is a global leader in IT services exports due to a combination of competitive labor costs and strong English language proficiency.
Russian companies can use India not only for the local market but also as a springboard for expansion into third-country markets.
Creating joint projects that combine Russian IT expertise with Indian outsourcing capabilities is a promising avenue.
4. Key Challenges and Barriers (“The Glass Half Empty”)
Cultural and Business Specifics: A strong tendency for Indian business to work with fellow nationals. The absence of a large and influential Indian diaspora in Russia, which acts as a “human glue” in trade with the West.
Indian Protectionism: The country pursues a strict import substitution policy. Its weighted average import tariffs are among the highest in the world (35% for agriculture, 13% for industrial goods), making direct exports of finished products nearly impossible.
Structural Trade Imbalance: The ratio of Russian exports to imports is estimated at 1 to 9. There are few Indian goods on Russian shelves (except for pharmaceuticals), creating a problem of rupee accumulation and complicating settlements in national currencies.
5. Solutions and Tools from the REC
Direct Contact in India: The REC’s representative office in Mumbai is operational and expanding; you can contact it directly.
Facilitating Interaction: The REC assists with participation in exhibitions (e.g., Smart Cities India), organizing business missions and “reverse” missions (bringing Indian buyers to Russia).
Strategic Conclusion: To succeed in the Indian market, it is necessary to abandon the simple sales model and transition to formats involving joint ventures, cooperation, and production localization.
President of the Eurasian Business Association
Thorough preparation of business missions is critically important. Instead of “introductory” trips, missions are needed where Russian companies already know their potential Indian partners in advance and are prepared to sign contracts. The primary success criterion is the number of deals closed.
General Director of Spec Investment, Executive Director of the Association of Digital Financial Platforms
00:00:02 — Dear colleagues, it’s a pleasure to see you all, and to recognize so many familiar faces. Our company, Spec Investment, works with our partners at Spec Finance in India. We maintain a significant presence at the flagship International Financial Services Centre (IFSC), located in the state of Gujarat. This is a special zone dedicated to conducting financial business. Our Indian colleagues have expressed a strong desire to learn more about and understand the opportunities in Russia, to establish partnerships, and to develop joint projects so we can strengthen one another.
00:00:35 — Personally, I have experience working in sectors such as public administration, non-profit organizations, and the financial sector. And as part of the Spec Group of Companies, we are at the forefront of the growth and demand we are witnessing, which is based on network technologies. This refers to technologies for mutual communication, leveraging the institutions and associations that are already in place. On the Russian side, we see the Russia-India Chamber, a co-organizer of today’s event, as a platform for communication on two levels.
00:01:06 — The first level is to assist those who were already working effectively before us. The starting positions here are very strong. We will contribute our technological expertise, resources, and analytical capabilities, as mentioned earlier by Alexey Krylovsky. The second level is to add new dimensions in sectors such as fintech, cybersecurity, blockchain, biotechnology, and so on.
00:01:28 — Such a platform and our efforts, I believe, will bring our countries much closer together, benefiting startups, innovations, accelerators, and existing ecosystems. What does this mean in practice? Lower costs and faster implementation timelines lead to increased mutual competitiveness in global markets. For instance, supply chains for building aircraft and ships require incorporation services, investment, treasury services, and logistical routes require insurance.
00:01:58 — I also want to provide more impetus for cooperation in the media sphere and in content creation for culture, theatre, and other areas. The diplomatic and political relations between our two leaders are very strong and arguably the most friendly. Thus, we are serving these highly positive relations by contributing our knowledge, resources, and know-how—first to help formulate new horizons (which is the name of our forum), and then to realize them.
00:02:24 — Thank you all for coming and for your participation. Let’s work together to realize both strategic goals and practical outcomes in the specific niches and industries where you operate. Thank you very much for your attention.
Senior Researcher, Institute of Asian and African Studies, Moscow State University; Author of the “Pith Helmet” Telegram channel
The speaker agrees that the problem is two-sided: the academic environment is conservative, while businesses are unaware of its potential. Platforms like this forum are needed to bridge this gap.
Vice President of the Association of Exporters and Importers (AEI)
The absence of a professional team. Success requires a team of professionals who understand the market’s specifics and know how to work with Indian partners.
Head of the Export Development Department, Moscow Export Center (MEC)
Final Conclusion: This approach appears promising, and its implementation should be developed further by joining forces with the relevant specialized departments.
Deputy General Director of the Association of ‘National Champions’ Rapidly Growing Technology Companies
The key is to extract a specific, strong technology from the overall stack and offer it to address a concrete need of the Indian market.
President of AV Group, Head of the Council of Strategists and Think Tank of the “Choose Local” Federal Party Project, United Russia; Candidate of Economic Sciences
1. Economic Weight of BRICS+ and Historical Context
The combined economies of BRICS+ account for 41% of the global economy. The original BRICS bloc alone represents 29.7% of global GDP, significantly surpassing the G7’s share of 30.4%.
This is not a new phenomenon: a thousand years ago, India, China, and Russia were already leading players in the global economy. Their current growth represents a “return” to leading positions following the West’s temporary dominance during the industrial era.
2. Russia and India: Growth Dynamics and Current Standing
India: The world’s 3rd largest economy by GDP (PPP), having grown 43% since 2017. Its nominal GDP is $3.9 trillion (5th largest globally).
Russia: The world’s 4th largest economy by GDP (PPP), with 16% growth since 2017. Its nominal GDP is $2.2 trillion (11th largest globally).
GDP per capita (PPP) highlights the developmental difference: Russia’s is ~$47,000, while India’s is ~$11,000.
3. Mutual Trade: Current Success and Untapped Potential
For India, Russia is its 4th largest overall trade partner and the 2nd largest source of imports ($65 billion), second only to China.
For Russia, India is its 5th largest import partner, but it does not rank among Russia’s top 10 export destinations, indicating significant untapped potential.
Russian exports are dominated by fuel and mineral products (growing from $2.1 billion in 2017 to $58 billion), oils, fertilizers, and precious metals.
A key objective is to move beyond the commodity-based model and enhance cooperation in technology, creative industries, and processing.
4. Ambitious Long-Term Development Strategies
India (Viksit Bharat Strategy until 2047):
Goal: To grow its economy from $3.7 trillion to $23–34 trillion (a 6 to 9-fold increase).
Growth Rate: Targeting 7–10% annually.
Key Drivers: Digital transformation, infrastructure (construction of 10+ megacities), education, healthcare, and the technology sector (aiming to become the world’s 2nd largest startup ecosystem).
Russia (National Goals until 2030 and Vision to 2050):
Framework: 7 national goals, including technological leadership, digital transformation, increased prosperity, and human capital development.
Implementation: Executed through 19+ national projects with a budget of approximately ~60 trillion rubles.
2050 Vision: To establish Russia as a great industrial and technological power, a leader and guarantor of a multipolar world.
5. The Need for Stronger Positioning and Ambition
Despite leaders’ statements on strategic partnership, many analytical centers do not list Russia among India’s priority partners.
To realize its ambitions, Russia needs a GDP growth rate exceeding 7.6% (reaching up to 9% in certain phases), which is comparable to the historical achievements of the USSR (13.8% from 1929–1955) and India’s current growth rates.
Achieving these goals is possible by focusing on human capital, technology, and deepening engagement with BRICS+ partners, primarily India.
Key Conclusion: The Russia-India partnership within the BRICS+ framework holds colossal potential. Realizing it requires a transition from commodity trade to technological and investment cooperation, coupled with more active efforts to promote Russia’s opportunities in the Indian market.
Aleksey Krylovskiy’s Answer to the Moderator’s Question
India’s Ambitious Goal: The country’s economy aims to grow from several trillion dollars to a figure exceeding $30 trillion over the next 25 years.
The Priority of Technological Partnership: As part of this growth, India will actively and purposefully seek partnership and joint projects with Russia, particularly in the technology sector.
The Reason for the Shift in Focus: Unlike resource-based cooperation, which has its limits and established markets, technology products hold the greatest potential for growth and development.
Russian Indian Chamber for Scientific, Cultural, and Commercial Collaboration
As someone who knows both countries intimately, the speaker is ready to share his experience and provide pro bono consultation to achieve this goal.
Key Points of the Answer:
Description of the Current Situation: While labor migrants are actively coming to Russia, they are primarily employed in low-skilled sectors such as manufacturing and construction.
Untapped Potential: The author highlights a discrepancy: India is globally recognized as a leader in the IT and digital technology sector, exporting hundreds of billions of dollars worth of software.
Specific Proposal: Instead of focusing solely on labor migrants, there should be a targeted effort to attract highly qualified Indian IT specialists to Russia. These professionals are capable of creating world-class technology companies and products, similar to their successful roles in companies like Google and Microsoft.
Supporting Argument: The Russian market, including the banking sector, already utilizes Indian IT solutions, demonstrating the competence and demand for such talent.
Key Conclusion: Cooperation in high technology and the attraction of qualified IT specialists, rather than just labor migrants, is the foundation for the future development and strengthening of relations between Russia and India.
Director of Investment Banking, Spec Finance Group, India
Speaker:
00:00:01 — Dear friends, we are meeting at a moment of both profound sorrow and great optimism. Just one week ago, terrorists struck at the very heart of India, in Delhi. Innocent people lost their lives, and many are still fighting for theirs. I wish to express my deepest condolences to all peace-loving people, and I am confident that India’s leadership will respond firmly and decisively to those who choose the path of terror.
00:00:51 — And yet, despite the pain, we live today in an era of immense positive change. This is a rare time when we can look to the future not just with hope, but with confident optimism.
00:01:18 — India is not a new country, but an ancient civilization that was once at the pinnacle of the global economy. For hundreds of years, from the first century to the seventeenth century, India’s contribution to global GDP is estimated to have been around 25-30%.
00:01:45 — Then came invasions, destruction, colonial plunder, and the siphoning of wealth, which in modern equivalent amounts to tens of trillions of dollars. By the end of the colonial era, a country that once accounted for a third of the world’s GDP was left poor and dependent.
00:02:17 — Why is it important to remember this in 2025? Because the current rise is not a miracle appearing out of nowhere. It is a return to the natural scale of a civilization that is rising to its full stature once again. Why should we speak of this in Moscow?
00:02:44 — Because Russia, the Soviet Union, played an important supporting role in the initial industrialization of India after the departure of the British colonial masters. This historic partnership has been strengthened under the leadership of Prime Minister Modi and President Putin.
00:03:13 — Now we are ready to open new horizons, which is the theme of today’s forum. For the last 11 years, India has, for the first time in a long while, had not only strong but also consistent leadership focused on development.
00:03:38 — Prime Minister Narendra Modi has done a rare thing. He has turned the delivery of promises into a habit. Domestically, this era is increasingly associated with the concept of Viksit Bharat 2047—a Developed India by the 100th anniversary of its independence. Many ask: is this merely a political slogan, or is it a realistic scenario?
00:04:12 — And the main question is: is a great Indian economic revival possible? The answer is: yes. Not only is it possible, it is real and it has already begun. In just one decade, we see the country building infrastructure at a record pace, attracting unprecedented foreign direct investment, scaling up its digital infrastructure and ecosystem, putting banking in every phone and a phone in the hands of a billion people.
00:05:00 — It is no surprise that independent forecasts increasingly state that India will become the world’s third-largest economy in the coming years, and potentially the second by mid-century. Above all, this means the emergence of a vast, dynamic partner for Russia and for the world, a partner with whom Russia has long shared a bond of trust.
00:05:30 — From missiles to movies, from student exchanges to yoga, there have long been quiet yet strong human connections flowing between our societies. A Developed India in 2047 will become a reality, and the process of realizing this mission will be one of the most remarkable historical, economic, and civilizational revivals in human history.
00:06:06 — Let me say one thing in Hindi; there is a song that goes like this: ‘Bharat Ka Rahnewala Hoon’. This song speaks of India with great pride. And this is a very realistic scenario. Thousands of years ago, Indian sailors and merchants brought the stories of Rama and Buddha to Cambodia, Thailand, and Indonesia.
00:06:41 — The story of Rama, honor, and dignity became part of the DNA of many civilizations. Indian crafts and art reached ancient Rome. India’s wealth was so great that nearly all the bandits on earth set their sights on India. India has been invaded countless times.
00:07:10 — By the Persians, Greeks, Huns, Arabs, Turks, Mongols, various Europeans—Portuguese, French, and finally, the British. After a thousand years of violence, occupation, and plunder, India not only survived but began to thrive.
00:07:36 — Thousands of years later, Indian civilization has come full circle, from greatness to greatness. It is now led by a noble leader. He has a vision spanning a thousand years. And he has set India on a path of irreversible growth and development. As he says, India can no longer be stopped.
00:08:05 — What is important? It is that India seeks to grow and develop, as Russians often have, through cooperation, collaboration, and mutually respectful relations in science and culture. Our culture, like Russia’s, is based on giving, exchange, honor, dignity, and respect.
00:08:36 — In terms of real business—a topic that concerns you—this means you will participate in the joint production of thousands of civilian aircraft that will directly connect dozens of cities in India and Russia. Jointly built Indian and Russian ships will ply routes to the Far East, the Black Sea region, and the Arctic.
00:09:14 — Indian and Russian researchers will jointly unlock the secrets of space. Together, they will train millions of engineers, who are in critically short supply in the West today. Vladislav Vladimirovich often tells me that the future belongs to those who have the engineers.
00:09:45 — What will this future be like? What can we expect? For a thousand years, the world has been shaped by conflict and struggle, racial hatred, colonization, and fascism. But a new era is dawning. The great civilizations of the East and the South—India, China, Russia—now have the capacity to defend their sovereignty.
00:10:17 — This means there will be no need to worry about war, constant plunder, or fighting against colonial masters. All that will come to an end, and an era of development through joint activity, cooperation, and collaboration will begin. I don’t think there will be any dispute about who will be the Vishwaguru; it will be a great teacher.
00:10:56 — This is a 5,000 to 7,000-year-old civilization that was the first to give the world the idea of coexisting in harmony with nature and with one another.
00:11:10 — In the very near future, thanks to scientific and technological cooperation between India and Russia, between our great nations—when everything will be built by our engineers and scientists, when all diseases will be treated with medicine developed using artificial intelligence, when the world has unlimited energy and quantum computing—then all that will remain is to create, to dance, to paint, and to develop one’s human potential.
00:12:01 — This is the future. If it seems like a fairy tale, like fantasy, let me tell you, it is not. This will be realized within the next 25-30 years. But to achieve this, the most important thing is the cooperation and partnership of great civilizations and nations like Russia and India.
00:12:31 — Thank you.
Moderator:
00:12:32 — Thank you for the applause for Ajay Goyal, writer, entrepreneur, founder of 14 companies across 9 countries, and a leader of the Indian diaspora. We thank you.
Ajay Goyal’s Answer to the Moderator’s Question
Moderator:
00:00:00 — Ajay, the question remains the same. What do we need? You spoke about joint ventures. What is preventing an increase in mutual investments, and why are we still not leveraging the potential of Indian graduates from Russian and Soviet universities?
Speaker:
00:00:21 — Because the old models no longer work. Nobody buys a Lada of the 5th or 7th model anymore. We live in a new economy with new rules and immense innovation. Therefore, developing our relationship requires completely new models of cooperation.
00:00:47 — There was talk here about what can be exported from Moscow to India. Nothing needs to be exported in that old sense. Why? Take Moscow’s designs, establish production in India, and open up a market for yourself of 3-4 billion consumers. America doesn’t manufacture much itself, yet it’s a global leader in many sectors.
00:01:16 — Apple doesn’t manufacture anything in America. Everyone still buys the iPhone. So, we need to think about the advantages of Russian technology, economy, and innovation. Those very innovative products—and Russia has many—in design, architecture, software, fintech, and applications.
00:01:46 — Develop them here. Then, process and manufacture them in India, set up marketing and distribution hubs in India, and first tap into the Indian market. Then, target Asian, African, and if needed, European and American markets. Therefore, cooperation should be structured around identifying who has which advantage.
00:02:15 — Not everyone needs to do everything, just like the Americans. American football is a good analogy. Everyone has their own role. Similarly, India and Russia should have their respective roles. India is a country that can scale Russian ideas. Secondly, of course, we need a new generation that understands each other.
00:02:44 — The language barrier must be removed. We need to create video linkups. I remember the first US-Russia video linkup in 1989. I met Steve Jobs when the first linkup was created. Now, everyone holds a 5G device in their hand, yet there is no real connection between India and Russia.
00:03:13 — What’s stopping us from opening numerous universities where Indian students can study the Russian language and Russian literature? Not in English, but in 30 Indian languages. Likewise, Indian literature should be read in Russia. In 1984, my father bought me a set of Russian classics.
00:03:45 — I still remember, I was 14 years old. The first one I read was And Quiet Flows the Don. I cried while reading it. But now, you can’t find a single Russian classic in India. And if you do find one somewhere in New Delhi, they are translated by Americans or the British.
00:04:11 — So, there are no real barriers; our hearts are open. Our leaders have repeatedly stated: we must open everything up, have more students, more universities, more scientific collaboration. Now we need doers, business leaders. And Vladislav Vladimirovich told me from day one: we must develop social contacts, civilizational contacts, scientific, and technological contacts.
00:04:47 — And we need to do this not on a five-year plan, but on a five-day plan, because we have all the tools, all the technology, all the applications, and all the opportunities to conceive an idea today and implement it next week.
Moderator:
00:05:06 — Thank you, Ajay.
