Russia was India's best ally from 1960 to 1990. Then USSR (mainly Russia) was disintegrated and India choose the path of liberalization and privatization in its economy.....smashing the age old License raj. After that India and Russia are just formal friends with few trade agreements. Though, Russia is struggling but still it's world's largest country area wise. There are many underdeveloped and unexplored resources in Russia. They lack man power and their population is decreasing (in decimal %). Russia is a promising country....India and Russia can help each other to be super powers and developed nations once again. What's your views?
International Politics has changed since 1990s, Russia needs west and USA for survival, India needs to increase it's list of friends and must reach out to more countries, if it wants to fulfill it's dream of being accepted as great power. There is a saying: There are no permanent friends or foes in International politics.