India-China-Russia Axis Reshaping Global Trade Order
- Tharindu Ameresekere
- Aug 26, 2025
- 2 min read
Despite recent high-profile meetings between Donald Trump, Vladimir Putin, and Volodymyr Zelensky, uncertainty continues to cloud the Russia-Ukraine conflict and U.S. trade tariff disputes. Yet, behind the diplomatic stagecraft, a deeper realignment is underway. From Beijing to Moscow to New Delhi, a strategic convergence, dubbed the “Dragon, Bear, and Tiger” triad, is quietly redrawing the contours of global trade and power.
Russian President Vladimir Putin is set to visit India by the end of 2025, while Prime Minister Narendra Modi will make his first trip to China in seven years for the SCO Summit. Analysts stress these aren’t routine visits but deliberate steps toward forging a Eurasian bloc that challenges Western dominance.
Experts argue that Trump’s tariffs will do little to shape today’s multipolar economy but may accelerate a geopolitical reset. Overdependence on the U.S. dollar, especially in energy trade, has already prompted Russia, India, and China to settle deals in local currencies, reducing reliance on Western financial systems.
Together, India, China, and Russia account for nearly one-third of global GDP (PPP), export one-fifth of the world’s merchandise, and hold almost 40% of global foreign reserves. They also represent 3.1 billion people, the largest consumer base in history. With $549 billion in combined military spending and commanding over a third of global energy consumption, the bloc’s influence extends far beyond economics.
India, long balancing ties between East and West, is now emerging as a central player. Cheap Russian energy, Chinese investment, and India’s service-driven economy create a powerful synergy. Experts suggest the alliance may even give New Delhi leverage in negotiations over China’s Belt and Road Initiative.
As Western trade barriers harden, the India-China-Russia trinity signals not just economic pragmatism, but the rise of a multipolar world order.
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