India-Russia Economic Ties Bolstered at BRICS Summit

Finance Minister Nirmala Sitharaman met Russian Deputy PM Denis Manturov in New Delhi to discuss advancing economic ties at the BRICS summit. They agreed to progress on a Bilateral Investment Treaty and strengthen cooperation across financial sectors, amid President Putin's arrival for crucial talks with PM Modi.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman engaged in significant diplomatic talks with the First Deputy Prime Minister of the Russian Federation, Denis Manturov, in New Delhi. The discussions aimed at enhancing economic cooperation on the sidelines of the ongoing BRICS summit, a crucial event for both nations.

The Ministry of Finance highlighted, in a social media post, the agreement between India and Russia to advance negotiations on a Bilateral Investment Treaty (BIT). This treaty is poised to create a beneficial framework to boost investment flows and foster deeper economic interaction between the two countries.

The context of these discussions was further enriched by the arrival of Russian President Vladimir Putin in New Delhi, preceding the 18th BRICS Summit. His presence indicates the gravity of the forthcoming bilateral talks with Indian Prime Minister Narendra Modi, focusing on strategic trade resilience, cross-border payment systems, and energy security amidst geopolitical challenges.