The first formal diplomatic relationship between India and Russia was established in 1950, shortly after India gained independence.

Jawaharlal Nehru was the first Indian Prime Minister to visit Russia in 1955.

During the Soviet era, the main focus of the India-Russia economic cooperation was technology transfer, particularly in the fields of heavy industry, defense, and space exploration.

The first India-Russia Business Summit was held in New Delhi in 2000.

The annual bilateral summit between India and Russia is called the India-Russia Annual Summit.

Narendra Modi visited Russia in 2018.

The Kudankulam Nuclear Power Plant is a joint venture between India and Russia in the field of nuclear energy.

Rosneft is a Russian company that has a significant presence in the Indian oil and gas sector.

Vedanta Resources is an Indian company that has a joint venture with the Russian company Alrosa in the diamond mining sector.

Hindustan Aeronautics Limited is an Indian company that has a joint venture with the Russian company United Aircraft Corporation in the aviation sector.

MICHELIN is a Russian company that has a joint venture with the Indian company Apollo Tyres in the tire manufacturing sector.

Larsen & Toubro is an Indian company that has a joint venture with the Russian company Rosatom in the nuclear power sector.

Gazprom is a Russian company that has a joint venture with the Indian company Oil and Natural Gas Corporation in the oil and gas sector.

Bharat Heavy Electricals Limited is an Indian company that has a joint venture with the Russian company United Wagon Company in the railway manufacturing sector.

Gazprom is a Russian company that has a joint venture with the Indian company GAIL in the natural gas sector.