India announced its intention to increase exports to Russia to $10 billion

India plans to increase exports to Russia from $5 billion to $10 billion. This was announced on December 16 by Ajay Sahai, Director General of the Federation of Export Organizations of India.

"We have strategic relations covering energy security, defense cooperation, and space cooperation. Trading has been surprisingly successful over the past year or so, and we are confident that we will continue to develop it. We plan to increase our exports from $5 billion to $10 billion," Sakhai said during a meeting of the Business Club organized by the Russian trade mission in India, RIA Novosti quoted him as saying.

According to the Director of the Federation of Export Organizations of India, trade between the two countries is developing successfully, especially in mechanical engineering, and the parties intend to strengthen strategic partnership in the energy, defense and space sectors. Among the promising areas for export growth, Sahai named electronics, pharmaceuticals and clothing, where India still has a small share in the Russian market.

At the same time, he noted the need to improve the quality of Indian products and bring Russian standards closer to international standards.

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Putin hopes to reach a trade turnover of $100 billion between the two countries, while Modi hopes to attract investments.

Russian President Vladimir Putin paid a two-day state visit to India on December 4. Indian Prime Minister Narendra Modi personally met the Russian leader upon his arrival in the state, and after that they went to an informal meeting in the same car. In addition, negotiations between the two leaders took place at the same time, which lasted more than two hours.

Following the talks, the parties agreed to approve a program of economic cooperation until 2030. The Russian leader noted that Russia and India have done a lot of work to develop relations, and the opportunities for cooperation are expanding. In turn, Modi also stressed that the skilful leadership of the Russian leader contributed to the development of relations between Moscow and New Delhi.

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