Trade still remains a challenge... Though it is positive, that is not enough,' he said.

'Bilateral trade last year was around $7 billion. That is nothing considering the potential there is in this globalised world, where we can find many more outlets to make the partnership profitable.'

According to Trubnikov, the energy sector, military technical cooperation and colloboration in space were the three pillars that formed the basis of the relationship between both countries.

'Military technical cooperation is highly competitive. We must learn to modernise techniques. Russia has changed its philosophy from being a buyer-seller partner to seeking mutual benefits in technology,' he said.

'Both countries are moving forward for joint production of a fifth-generation fighter aircraft and a multi-role transport aircraft.'

Explaining the increasing importance of India-Russia relations in a developing multi-polar world, Trubnikov referred to the BRIC (Brazil, Russia, India and China) grouping that he reckoned will play a significant role.

'It is going to play a more and more significant role in the construction of an architecture for the future both militarily and economically.'