First Deputy Prime Minister Denis Manturov and Minister of Foreign Affairs of the Republic of India Subramaniam Jaishankar held the 26th meeting of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation in Moscow.
Over the past 5 years, the volume of trade between Russia and India has grown almost 7 times. India is one of the three largest foreign trade partners of Russia.
"Simultaneously with the increase in trade volumes, its range is also expanding. In addition to traditional and sustainable energy supplies to India, Russian exports include mineral fertilizers, metallurgy and forestry products, diamonds, energy equipment and food. In turn, our country imports agricultural products, medicines and substances, light industry goods, industrial raw materials, equipment and components from India," Denis Manturov noted.
The First Deputy Prime Minister pointed out the importance of further work on the preparation of a free trade agreement between the EAEU and India, as well as on ensuring the continuity of mutual settlements between the two countries.
In addition, cooperation in the chemical industry, metallurgy, transport engineering and digital technologies was discussed at the meeting. Special attention was paid to cooperation in the energy sector. The First Deputy Prime Minister noted the potential for expanding Russian GNC supplies to India.
A business forum was held on the sidelines of the intergovernmental commission meeting, where prospects for comprehensive cooperation and expansion of business contacts between Russia and India were discussed. Denis Manturov invited his Indian colleagues to attend the Eastern Economic Forum in September in Vladivostok, the Russian Energy Week in October in Moscow, as well as the Innoprom industrial exhibition in Yekaterinburg next July.
