India-Russia Trade: A Winning Partnership for the Future

Prime Minister Narendra Modi expressed confidence in hitting the $100 billion trade target between India and Russia ahead of the 2030 deadline. He highlighted investment opportunities and collaboration areas with Russia, emphasizing their strong partnership built on mutual trust and potential to influence the Global South.

In a high-profile address at the India-Russia Business Forum, Prime Minister Narendra Modi reaffirmed India's ambition to achieve a $100 billion bilateral trade target with Russia before 2030. Highlighting several key sectors, Modi invited Russian investment and emphasized the strong foundation of mutual trust between the two nations.

Russian President Vladimir Putin, present at the forum, stressed the importance of a preferential trade agreement with the Eurasian Economic Union to eliminate barriers in the exchange of goods, services, and capital. He noted the significance of resilient bilateral settlement mechanisms, including the use of national currencies in trade.

The discussions underscored the extensive collaboration potential in electric vehicles, vaccine development, and industrial cooperation, positioning the India-Russia partnership as a major global force. Modi and Putin's commitment highlighted a future-oriented relationship, aiming at shared economic growth and futuristic innovations.

(With inputs from agencies.)