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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Warm Russian, Indian ties outlive Cold War Reuters - Thursday, December 23 Send IM Story Print By Alexei Anishchuk MUMBAI , dispels Russian fears its former Cold War ally has turned to the West. Prime Minister Manmohan Singh, who has in the space of a few months hosted all the leaders of the five permanent members of the U.N. Security Council, said "Russia is a time-tested friend of India" at the start of Medvedev's two-day trip on Tuesday. "In the past few weeks a number of heads of state have made visits to India. India has emerged as one of the fastest and powerful economies with plus 8 percent GDP growth rate," Foreign Minister S.M. Krishna said Wednesday in New Delhi. "In the whole world only India and China could withstand the recession in the past. This shows the resilience of India and its increasing role in world politics and economy," he said. Russia has been India's close economic and political partner since Soviet days, and monopolised India's defence market for decades, but India has been steadily reducing its reliance on one country to reflect its growing influence on the world stage. "President Dmitry Medvedev has done well to dispel the growing misperception that Indo-Russian relations have lost their salience amidst India's new warmth with the U.S. and the West," the Indian Express newspaper said in an editorial. FROM RUSSIA WITH LOVE Medvedev will spend his last day in India visiting the Taj Mahal in Agra, meeting students in Mumbai and touring "Bollywood" film studios, a big export industry to Russia. Medvedev, a photography buff who frequently posts his own photos on the Internet, took pictures of the 17th century monument dedicated to love, the state-run news agency RIA said. "The Taj Mahal is a unique achievement of mankind," Mevedev wrote in the guest book. Russia joined the United States and France in offering support for India for a permanent seat at an expanded Security Council to reflect the growing might of emerging economies. India says a seat on the Security Council would reflect the G20 nation's importance as its $1.3 trillion economy helps spur global growth and its government exerts more and more influence over issues from Doha trade to climate talks. Reform is unlikely to happen quickly, however, with China decidedly lukewarm about admitting its regional rival to the U.N. top table. India's growing ties with the United States, underscored by a landmark civil nuclear deal, has made Russia ill at ease. India, the second fastest-growing major economy in the world after China, is one of the top arms importers and plans to spend about $50 billion on defence in the next few years to upgrade its ageing Soviet-era arsenal, mainly to counter a perceived China threat. World leaders, accompanied by top executives, are hungry to secure a slice of India's largely undeveloped economy, expected to grow at near-double digit rates for the next decade, making it one of the five largest economies in the world by 2020. BARGAINING POWER Russia has long seen India, which has a tradition of trying to ensure it does not walking a careful line to avoid backing one camp over another, as a counterweight to China and a potential ally in Afghanistan. "The strategic, economic and political importance of Russia can not be overstated," said Bhaskar Roy, a New Delhi-based strategic affairs columnist. "India needs Russia for its energy requirements, to counter-balance China, for retaining influence in Afghanistan once the Western troops leave, for influence in energy-rich Central Asia, and generally for support and backing at all major international fora. India needs Russia to realise its ambitions, global goals," Roy said. No details were given as to the size of the potential aircraft deal between Russia and India, but both countries have in the past talked about producing 250-300 such fighters over 10 years, unofficially said to be worth about $35 billion. "That in turn has enormously increased India's bargaining power with the U.S. and European suppliers of advanced conventional weapons," the Indian Express said. Boeing's F/A-18 Super Hornet, France's Dassault Rafale, Lockheed Martin Corp's F-16, Russia's MiG-35, Sweden's Saab JAS-39 Gripen and the Eurofighter Typhoon are competing for a separate order from India for 126 fighter jets, valued at about $10.4 billion. India and Russia agreed to open talks on building a third and fourth reactors for a nuclear power plant in India's southern state of Tamil Nadu, but failed to sign a firm deal because of Russian concerns over a recently passed liabilities bill. Recommend Send IM Story Print Related Articles U.S. challenges China subsidies for wind power Reuters - 2 hours 34 minutes ago South Korea army to hold huge drill, North silent Reuters - 2 hours 43 minutes ago S.Korea readies major military drill near tense border AFP - Thursday, December 23 Dubai's DP World sells $1.5 bln Australian stake AFP - Thursday, December 23 Japan slams officials over whale meat gifts AFP - Thursday, December 23 News Search Top Stories Indonesia's dragons draw tourists to 'Jurassic' islands Time Magazine honors AFP photographer US third quarter GDP growth revised higher British economy suffers growth downgrades Deal reached on aircraft export credits: OECD More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Fears grow of euro-style debt crisis in US states Zsa Zsa Gabor's husband glues own eye shut US gets tough on shark fins Lunar eclipse makes memorable solstice 'World's first' glasses-free 3D TV hits Japan More Most Viewed » NASA finds new form of life... on Earth Defiant Obama defends tax cuts, eyes 2012 More Most Recommended » Elsewhere on Yahoo! 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