The review deals with the influence of the Indian liberal reforms on the external economic policy. The author reveals the main achievements and difficulties on this way in 1990–2000, complicate relations between the state and the national business. The rich fact and statistical data are demonstrating the new Indian positions on the world market as a result of the changing export structure and the participation in international outsourcing. There is noted positive policy of the Government in the contacts with Indian diaspora. The conclusive chapter reveals the Russian–Indian external economic ties.