Trade turnover with India may come close to USD 30 billion by end of 2022: Russian embassy
Nov 08, 2022
Moscow [Russia], November 8 : Russian Deputy Prime Minister Denis Manturov held talks with External Affairs Minister S Jaishankar on Tuesday and they noted bilateral trade turnover may reach USD 30 billion by the end of this year, according to a statement released by the Russian embassy.
The talks between Manturov and Jaishankar were held in the format of India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC).
"A dynamic growth of bilateral trade turnover was noted, which, by the end of this year, may come close to the goal set by the leaders of the two countries - 30 billion USD," the Russian embassy said in a statement.
Denis Manturov, who is also Russia's Minister of Industry and Trade, said relations with India can be described as a special privileged strategic partnership and they are of prime importance to Moscow. He added that despite pressure from Western countries, both nations are able to maintain the intensity of bilateral cooperation.
"Despite Western pressure, we have maintained intensive bilateral interaction and are satisfied with the development pace of our political dialogue with India. Our comprehensive and multifaceted ties in trade and investment are developing successfully, and industrial cooperation between our countries is growing in a broad range of areas," Manturov said.
Jaishankar arrived in Moscow on Monday as a part of his two-day visit to Russia, in continuation of the regular high-level dialogue between the two sides. During his meeting with Russian foreign minister Sergey Lavrov, he reviewed the entire gamut of the India-Russia relationship.
"Just concluded comprehensive discussions with Foreign Minister Sergey Lavrov of Russia. Reviewed the entire gamut of our steady and time-tested relationship. Also exchanged perspectives from our vantage points on global and regional developments," he said in a tweet.
Lavrov also said that both countries soon reach the target of increasing their trade turnover to USD 30 billion.
"We welcomed the positive dynamics of bilateral trade. By September, trade turnover had increased by more than 130 per cent compared to the same period last year, almost reaching the USD 17 billion mark . We are confident that the goal set by our leaders - to bring trade turnover up to USD 30 billion - will soon be achieved," Lavrov was quoted as saying by Sputnik during a joint press conference.
