‘The partnership between India and Russia will prove to be better for the world’- EAM S.Jaishankar

New Delhi| Russia has focused more on Asia since 2022. This has created many more opportunities for cooperation. Foreign Minister Dr. S Jaishankar said this while addressing the India-Russia Business Forum held in Mumbai. The two countries have a long history of strong cooperation and deep friendship, he said. The history of our friendship allows us to make the best of both factors. That the two economies complement each other is also an important consideration. The partnership between India, a market with 8% growth rate, and tech giant Russia will prove to be good for both countries and for the world

Foreign Minister Dr. “I want to highlight 10 important developments that need our attention”, S Jaishankar said. First, our bilateral trade today is $66 billion. This makes the goal of reaching $100 billion by 2030 far beyond that of Yatharthava. Second, the trade balance urgently needs to be rectified because it is too one-sided… Third, the India-Eurasian Economic Union trade-goods dialogue began in March this year. We need to push it forward vigorously.”

Fourth, first bilateral investment forum held in Moscow in April 2024… Fifthly, the Programme of Cooperation regarding the Russian Far East from 2024 to 29 was signed in July during the annual summit. It encourages other related activities including connectivity sector. Sixthly, mutual agreement of trade in national currencies is very important, especially in the present circumstances…

Seventh, the signing of the bilateral agreement between the customs authorities of our two countries on authorised economic operators in May 2024 has had a major impact on smoothing trade. Ease of doing business. Eight, the three connectivity initiatives between us, the international North-South Transport Corridor, the Chennai-Vladivostok Corridor and the Northern Sea Route, all require sustained attention if we are to realize their full potential. Nine, Russia’s growing appreciation of Make in India as a program to deepen trade will certainly help advance our cooperation in many areas. And finally, I want to draw your attention to the importance of non-economic sectors, like education or film, that contribute to a greater social and economic engagement between us.”