India, Russia Agree To Advance Bilateral Investment Treaty Talks o Boost Investment and Economic Cooperation
India and Russia have agreed to move forward with negotiations on a bilateral investment treaty aimed at strengthening investment flows and economic cooperation. Finance Minister Nirmala Sitharaman and Russian First Deputy Prime Minister Denis Manturov discussed economic ties, financial services and future collaboration during a meeting in New Delhi
India and Russia have decided to accelerate discussions on a bilateral investment treaty (BIT) as both countries look to create a framework that can encourage greater investment and strengthen economic relations.
The development followed a meeting between Finance Minister Nirmala Sitharaman and Denis Manturov, first deputy prime minister of the Russian Federation, in New Delhi.
Manturov was part of the delegation accompanying Russian President Vladimir Putin during his India visit.
The Finance Ministry said both sides discussed ways to expand and deepen economic cooperation between the two nations.
“It was agreed to advance negotiations on a Bilateral Investment Treaty (BIT), with a view to establishing a mutually beneficial framework for enhancing investment flows and economic engagement,” the ministry said.
A BIT is designed to provide rules and protections for investments between two countries, helping create a stable environment for investors and businesses.
The discussions also covered opportunities to enhance cooperation in the financial services sector. The talks come as India and Russia continue efforts to strengthen their longstanding economic and strategic partnership.
Putin visit and BRICS Summit agenda
Russian President Vladimir Putin arrived in New Delhi on September 11 to participate in the 18th BRICS Summit. He is also scheduled to hold bilateral discussions with Prime Minister Narendra Modi.
Russian presidential spokesperson Dmitry Peskov said the leaders would review issues related to bilateral ties, including trade and economic cooperation.
“They will touch on the bilateral agenda. Trade and economic cooperation is a very wide scope,” Peskov said during a virtual briefing from Moscow.
The latest discussions take place amid changing geopolitical conditions, with India and Russia seeking to maintain momentum in their strategic partnership.
The 18th BRICS Summit is scheduled to be held in New Delhi on September 12 and 13, bringing together leaders from member countries to discuss global economic and diplomatic issues.
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