New Delhi, Dec 5: Prime Minister Narendra Modi on Friday exuded confidence that the USD 100 billion bilateral trade target between India and Russia will be achieved ahead of 2030.
Modi at India-Russia Business Forum
Speaking at the India-Russia Business Forum, along with Russian President Vladimir Putin, Modi invited Russian businesses to 'come and Make In India...and partner with India'.
Trade Target Set Earlier
The Prime Minister recalled that last year, President Putin and he set a target of reaching USD 100 billion in bilateral trade by 2030.
Target Likely to be Achieved Earlier
"However, after further discussions with President Putin and considering the tremendous potential in our partnership, I am confident that we will achieve this target well ahead of schedule. We are making rapid progress towards this goal," Modi said.
FTA Discussions Underway
He further said that simplified and predictable mechanisms are being created for businesses, and discussions have begun on the FTA between India and the Eurasian Economic Union.
Trust as Core of Partnership
Whether it is business or diplomacy, the foundation of any partnership is mutual trust, he noted.
Strength of Bilateral Ties
"The greatest strength of India-Russia relations is this trust. It is this trust that gives direction to our joint efforts and also provides momentum," the Prime Minister said, adding that this is the launchpad that gives inspiration to take flight towards new dreams and aspirations.
Opportunities in Technology and Manufacturing
He noted that India is a global leader in affordable, efficient electric vehicles, two-wheelers, and CNG mobility solutions, while Russia is a major producer of advanced materials.
EV and Manufacturing Collaboration Potential
By partnering in EV manufacturing, automotive components, and shared mobility technologies, the two countries can not only meet their domestic demands but also contribute to the development of the Global South, Modi said.
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Putin on Strengthening Relations
President Putin said Russia is for strengthening its multifaceted relations with India in various fields. He also said that Russian companies are ready to increase purchases of a wide range of goods and services from India.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
