The new world system endowed the biggest semi‐peripheral countries, most notably India, with a special role. Along with China, India appears to be transforming into a specific subsystem of international relations where both Asian giants can become competitors to the United States in the struggle for leadership. In this sense, history is repeating itself, with rivals appearing at the periphery. The international community still does not recognize India’s status as a global power. Its realpolitik is still poor and the country follows a balancing strategy dating from the bipolar era. However, the Indo‐Pacific region is a key direction of Indian foreign policy and it is deepening engagement with East Asia, thus making it easier to analyze the national interests of the country, its limits and opportunities, and the state of cooperation or contradiction with such global actors as the United States and China. The Asia‐Pacific is also a vital region for Russia’s national interests, but Moscow’s political and economic presence is thus far more declarative than real. India is a natural and objective ally of the Russian Federation. However, the joint activities of India and Russia in the Indo‐Pacific will be limited, primarily due to their different approaches toward relations with China.