External Affairs Minister Dr. S. Jaishankar said on Tuesday that despite challenges related to payments and logistics, India and Russia will achieve the $100 billion trade target by 2030 or earlier.
Dr. S. Jaishankar, the External Affairs Minister, and Denis Manturov, the Deputy Prime Minister of Russia, co-chaired the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation today. In his opening remarks, EAM Jaishankar said that there have been challenges in trade related to payments and logistics, and while notable progress has been made, more work remains to be done.
He stated that the India-Russia bilateral trade has reached $66 billion. There is a need to make it more balanced and more convenient. The ease of doing business needs to be improved. Emphasizing the importance of connectivity, EAM Jaishankar said that joint efforts should be made to expand the International North-South Transport Corridor, the Chennai-Vladivostok corridor, and the Northern Sea Route.
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