India, Dec. 10 -- The just-concluded summit between Prime Minister (PM) Narendra Modi and Russian President Vladimir Putin, while highlighting the determination of both countries to pursue their national interest despite geopolitical pressures, also marked a fundamental restructuring of bilateral ties.

The realignment is prompted by the understanding that, while the two countries share a common political vision of a multipolar Asia, bilateral trade has to diversify beyond defence and energy, to create a robust economic environment that would be a solid foundation for a sustainable relationship.

This explains why there were no announcements of big defence or energy contracts. This led to some commentaries hastily declaring that the summi...