In December 2022, during a visit to India, Russian President Vladimir Putin announced a bilateral trade target of $100 billion to be achieved by 2030. This ambitious goal reflects the strengthening economic ties between Russia and India, as both nations seek to enhance their trade volumes. Kremlin spokesman Dmitry Peskov emphasized the stable growth trend in economic relations, indicating that both countries are committed to working together to reach this target. Currently, trade turnover between Russia and India stands at approximately $58 to $60 billion, showcasing significant potential for growth. The relationship between Russia and India is characterized by a 'particularly privileged status,' according to Peskov. This partnership is not only based on economic interests but also on shared participation in international unions, which further solidifies their collaboration on various global issues. The Kremlin has expressed immense importance in improving ties with India, recognizing the country's role in the emerging global order. At the 12th International Scientific and Expert Forum 'Primakov Readings' held in Moscow, Peskov highlighted India's potential as a development superpower. Policy expert Samir Saran noted that India has lifted more people out of poverty than any other nation, positioning it as a crucial player in addressing global challenges such as climate change and development. This perspective underscores the significance of India in the current geopolitical landscape, especially as it navigates its relationships with major powers like Russia and the United States. As the world faces various challenges, the collaboration between Russia and India is expected to reach new heights. Both countries are optimistic about achieving their trade target, with Putin expressing confidence in the necessary conditions being in place to intensify joint efforts. The ongoing dialogue and cooperation between these two nations will likely play a pivotal role in shaping their future economic and political landscape, as they work towards mutual benefits and shared goals.
Moscow and New Delhi have set a bilateral trade target of $100 billion by 2030 Russia and India are working on increasing bilateral trade volumes, Kremlin spokesman Dmitry Peskov has said, as the countries pursue a trade target of $100 billion by 2030. Ties between Russia and India, the world’s most populous country and one […]
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