India, Russia need to guide business communities to achieve USD 30 billion trade target: PM Modi
Dec 06, 2021
New Delhi [India], December 6 : Russia and India need to guide their business communities to reach the target of USD 30 billion trade and USD 50 billion investment between the two countries by 2025, said Prime Minister Narendra Modi on Monday.
PM Modi made the remarks at the annual summit with Russian President Vladimir Putin here.
The Indian leader said that the year 2021 is of prime importance for bilateral relations between the two countries in many ways.
"This year marks five decades of the 1971 Treaty of Peace, Friendship and Cooperation and two decades of our Strategic Partnership. It is my pleasure to be with you again in this special year because you have been the main driver of the remarkable progress our Strategic Partnership has made over the past 20 years," he said.
PM Modi noted that India and Russia have been in regular touch on Afghanistan and other regional issues.
"The regional partnership that began with the Eastern Economic Forum and the Vladivostok summit is today turning into a real cooperation between the Russian Far-East and the Indian states," he said.
Despite the challenges posed by Covid, the pace of relations between India and Russia has not changed, PM Modi acknowledged.
"Our Special and Privileged Strategic Partnership has been continuously strengthening. The fight against Covid has also seen excellent cooperation between the two countries-- whether in vaccine trials and production, in humanitarian assistance, or in the repatriation of each other's citizens," he said.
India and Russia on Monday signed a record 28 MoUs and agreements across a wide range of sectors.
"Our defence cooperation is being further strengthened through co-development and co-production under the 'Make in India' programme. Our cooperation in Space and Civil Nuclear fields is also progressing well," PM Modi said.
"We are also adopting a long-term vision to deepen our relationship in the economic sector. We have set a target of $30 billion in trade and $50 billion in investment by 2025. We must guide our business communities to reach these goals," he added.
