Russian President Vladimir Putin's visit to India has prompted the usual dark musings about a new "axis of power" to balance the United States, the West and the international order as it now exists. Yet there is far less to the revitalization of Russia-India ties than the geo-fantasists would have us believe. Moscow and Delhi are trying to restore a relationship that has languished since the end of the Cold War. Practical concerns — profits — provide the basis of this partnership, not some abstract principle.

India and the Soviet Union had close relations during the Cold War, despite New Delhi's leading position in the Non-aligned Movement. The Soviets were the primary suppliers of weapons at that time, and provided nuclear fuel and technology when India was ostracized by the West for its refusal to sign the Nuclear Nonproliferation Treaty. When the Cold War ended, India embraced economic reforms that opened the door to new relationships with the West, including the U.S. Russia's inability to provide capital or technology contributed to the relative downplaying of that traditional relationship.

In the last decade, economic growth has averaged an impressive 8 percent, and the country is ready once again to assert its global ambitions. The government in New Delhi has been eager to use its growing market for strategic advantage. Yet economic growth has also exposed one of India's weaknesses: energy security. The country already experiences blackouts on a regular basis and energy demand is expected to triple in the next 15 years. Russia has much to offer with its vast energy reserves and its nuclear technologies. As Indian Prime Minister Manmohan Singh explained, "Energy security is the most important emerging dimension of our strategic partnership."