Dates of the First Russian–Indian Economic Forum to Be Announced Later
Due to the intense schedule of international events, at the initiative of the Indian side, a decision was made to postpone the First Russian–Indian Economic Forum. The date and site of the event will be announced later.
A number of bilateral events with the participation of Russian and Indian governments is scheduled for the near future. A representative Indian delegation headed by the Indian Minister of Commerce and Industry Suresh Prabhu will take an active part in the Eastern Economic Forum, which will be held on 11–13 September in Vladivostok. On 14 September the meeting of the Russian–Indian intergovernmental commission will be held. Discussions of cooperation in the agricultural, transport, energy, industrial sectors, innovative technologies and interregional cooperation will take place.
India is one of Russia's leading trade partners. By the end of 2017, mutual trade reached nearly $10 billion. In the first half of 2018 it was worth $5.5 billion. The Russian President Vladimir Putin and the Indian Prime Minister Narendra Modi have set a goal to increase mutual trade between the countries to $30 billion by 2025. This will be facilitated by the elimination of existing restrictions and barriers, development of top-priority investment projects, strengthening of interregional cooperation and a number of other actions.
Russian business is quickly expanding its presence on the Indian market: in addition to the traditional sphere of the military-industrial complex, Russian energy, transport and logistics, industrial production, trade and tourism companies are represented on the Indian market. Indian companies also opened production units in Russia specializing in pharmaceuticals, agroindustry, gem-cutting, textile and mining industries.