India, Dec. 7 -- New Delhi recently hosted a diplomatic and economic spectacle that went far beyond protocol: a hug in the limousine, folded hands at the airport ramp, lamps flickering "Welcome Putin" across the Ganges, and an atmosphere of warmth signaling India's clear stance in the shifting global power landscape. At the center of this sovereign assertion stood Prime Minister Narendra Modi.

The visit highlighted a hard economic reality: India exports only about $5 billion to Russia, even as bilateral trade has surged to approximately $69 billion by March 2025, up from $8 billion in 2020. This surge is driven almost entirely by India's discounted crude imports, a pragmatic move that has strengthened energy security, curbed inflation, a...