LF, even on Naval side, Russia's supplied us cutting edge equipment as late as last year when "Dadima" was present at Yantar shipyard to inaugurate our warships. The problem is Russian armed forces are not ordering the same advanced system due to I don't know how but cash crunch despite Russian government being so rich. So its companies are relying on Indian, Vietnamese, Malay, Venezuelan and other nations' orders to fill up their profits. When there's hi-tech stuff made for foreign exports and not for local industry, the cycle gets ruined.
Russian government has to pump in billions into their ailing industries for diversifying if they want to stand a chance against Chinese who've a copied solution for every Russian ship and half the price.
Western companies are technically here for some loss as they tend to overcharge for their products which the emerging countries won't be willing to pay=--- meaning Russian industry still has a silver lining to capitalize on. And GOI's move to privatize arms industries in future would mean more JV products can be made with them.