The new agreement on investment promotion and development of business cooperation between Russia and India will be an important step towards further development of trade and investment cooperation. The talks were initiated following the meeting of Indian Prime Minister Narendra Modi with the Head of the Russian State in Moscow, The Hindustan Times states

Russia is exploring investment opportunities in the fields of energy, petrochemicals, infrastructure, construction and railways. The Indian side is interested in investments in the development of the Russian Far East, the Northern Sea Route, energy, infrastructure and shipbuilding

Other areas of interest for both sides are the pharmaceutical industry, metallurgy and banking. Russia has already invited Indian investors to implement high-tech projects in the Far East. India, in turn, offered investors from Russia to create production facilities in industrial cities of the republic

The trade turnover between Russia and India in the fiscal year ended March 31, 2023-2024 increased 1.8 times and amounted to $65.7 billion. Russia has become India’s fourth largest trading partner after the United States, China and the UAE

CRYSTAL OF GROWTH previously informed that, according to the statement of the heads of Russia and India, the mutual trade turnover of the two countries should reach $ 100 billion by 2030, as well as the fundamental withdrawal of Russia and India from the dollar and the euro in mutual trade with the transition to national currencies