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India-Russia Trade Deal: President Putin has reached India and agreements have been signed between the two countries in many sectors. Meanwhile, PM Modi said that India-Russia bilateral trade will reach 100 billion dollars by 2030.
India-Russia Trade Deal : Russian President Vladimir Putin has reached India on a two-day visit and many agreements have been signed between the two countries. Meanwhile, Prime Minister Narendra Modi on Friday expressed confidence that the bilateral trade target of $100 billion between India and Russia will be achieved before 2030. Speaking at the India-Russia Business Forum with President Putin, PM Modi has invited Russian businesses to come to India, participate in Make in India and partner with India.
Tremendous potential in partnership: PM
Prime Minister Modi said that considering the tremendous potential in the talks and partnership with President Putin, I am confident that we will achieve this target much before the scheduled time, because we are moving rapidly towards it. He further said that easy and reliable systems are being prepared for business. Besides, talks on FTA have also started between India and Eurasian Economic Union. The Prime Minister said that the foundation of business and diplomacy or any partnership rests on mutual trust. Apart from this, the biggest strength of relations between India and Russia is trust. This trust serves to give the right direction to our joint efforts and also gives them momentum.
Global South can make important contribution
He said that this partnership inspires to fly towards new dreams and aspirations. Apart from this, India is a global leader in cheap and good electric vehicles, two-wheelers and CNG mobility solutions, while Russia is a big producer of advanced materials. Modi said that by partnering in EV manufacturing, automotive components and shared mobility technology, both the countries can not only meet their domestic needs but can also contribute to the development of the Global South. At the same time, President Putin said that Russia is ready to strengthen its relations with India in various sectors. He also said that Russian companies are ready to increase the purchase of many types of goods and services from India.
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