Russia-India-China (RIC) troika evokes both primary challenge and opportunity. Russia took the lead in advancing the group, with China expressing support and India showing openness. The RIC troika represents a strategic opportunity to unite against external economic pressure and reaffirm foreign policy autonomy. Each pursues their policies based on national interests.

To this end, RIC troika paves the way for a challenge to Trump’s discriminating tariff ruling. The warming of India- China relation stood out in SCO Summit as a strategic point to rein in Trump’s tariff threat. The security concern between China and India is tapering, with Russia playing an important role for camaraderie in the group.

Though China and Russia are the bigger sources of imports, the characteristics of imports prove boon to India. Imports from China helped in building new industries in India and imports from Russia raised resilience to global uncertainty of oil dependence.

Hitherto, large import from China was lamented as a burden for trade deficit and damage to the growth of domestic industries. Nonetheless, after the tariff war, a new image has been built up on imports from China. Import is treated as an important characteristic for development of new industries and the industries dependent on supply chain.

China is one of the biggest trading partners of India and so is Russia. China is the biggest source for India’s imports, while USA is the biggest destination for exports. China accounted for 15.8 percent of India’s total imports in 2024-25 and USA accounted for 19.8 percent of India’s exports in the same year.

To this end, China played crucial role in developing new industries in India and Make in India a successful venture. The prominence of China looms, with a proverb “Make in India relies on Make in China”. China is the biggest supplier of electronics goods, electric machinery, pharmaceutical intermediates and auto components. Incidentally, the corresponding impact perk up growth of electronic goods, electrical machinery and drugs pharmaceutical and they emerge the major items of India’s exports. Together, they accounted for 19.6 percent of India’s total exports in 2024-25.

There is a close relationship between India’s exports to USA and imports from China. Chinese imports play significant role as catalyst to boost export to USA.

Currently, exports of electronic equipments and components are the biggest items for export to USA. They account for nearly 18 percent (US $ 15.2 Billion) of India’s total exports to USA in 2024-25.Chinese imports of electronic components make a parallel impact on production of electronic goods in India and accelerate exports to USA. During past two years, exports of electronic goods to USA recorded over 56 percent/year growth. Correspondingly, imports of electronic components from China recorded 32 percent/year growth.

Russia emerged the top import source for crude oil import for India after EU sanction. It outsmarted OPEC for oil import by India. Oil is the second biggest energy in India, next to coal. Nearly 30 percent of total energy is derived from oil. Paradox of energy availability in India is that while mega shares of coal and hydro energy are available from domestic sources, 90 percent of oil is procured by imports.

China plays key role in boosting new industries like electronics and other industries based on low cost supply chain and Russia plays significant role in outsmarting India’s oil starved energy.

Burying the earlier impression about large imports from China as negative to India’s growth, a new look has been given to the imports from China and its investment. Economic Survey 2023-24 focused on a relook to Chinese investment and its significance to refurbish Make in India.

India’s rapid growth in the demand for low cost advantage and renewable energy tilted it to China. Beyond traditional trade, warming ties are expected to accelerate cooperation in semiconductors, agro-tech and research. The newly launched “China-India Semiconductor Supply Chain Alliance” is evincing hope for use in agriculture and irrigation systems.

New energy has become a strategic cooperation priority. India’s rapid growth in renewable energy emerged the moot point for engaging Chinese competitive advantages in technologies. Big Indian houses, like Adani, Reliance, JSW, are in the queue to engage with Chinese battery giants like CATL and BYD.

India is confident to meet its oil requirement from alternative sources, if Russian supplies are disrupted, according to Union Minister, Hardeep Singh Puri. He pacified the concern by reverting back to previous sanctions, saying that India had evaded the sanctions by expanding oil diversification from 27 countries to 40 countries. Against these backdrops, RIC troika has emerged as a saviour to deal with Trump’s tariff bully. (IPA Service)