This article analyzes the specifics of military-technical cooperation between Russia and India, as well as the dynamics, risks and prospects of the partnership in the first quarter of the twenty-first century. In their inter-state relations, the Russian Federation and the Republic of India adhere to the concept of a long-term privileged strategic partnership in the field of security and defense that dates back to the Cold War years. Despite high competition on the military equipment market and a significant increase in military-industrial capabilities in New Delhi, Moscow remains the main supplier of military products to India. The range of Russian military products is quite broad and includes a variety of weapons and equipment to meet the growing needs of India's army and navy. However, there are risks associated with the current dynamics of military-technical cooperation and the increasingly complex geopolitical situation in the region and the world. The article presents the main problems, threats and challenges to bilateral relations in the field of military-technical cooperation, which are associated with India's desire to diversify arms supplies, growth of political and economic risks caused by the sanctions policy against Russia from the collective West, changes in the intensity of geopolitical processes and increased competition from other military suppliers. In addition, prospects for future military-technical cooperation between the two countries are examined, including technological advances, opportunities related to India's Make-in-India program, and potential strategic areas of cooperation between Russian Federation and Republic of India, such as unmanned systems, cybersecurity, and joint research to develop more advanced weapons systems. The bottom line is thatproductive military-technical cooperation between Russia and India can be achieved in the future if a number of measures are taken, mostly related to eliminating risks and creating good conditions for both sides. Such measures could include expanding the boundaries of military-technical cooperation, ensuring mutually beneficial economic conditions, strengthening institutional ties, and bringing together scientific and technical experts in the field.