Moscow, Oct 26:
Prime Minister Narendra Modi and Russian President Vladimir Putin have directed officials in their respective governments to strengthen bilateral cooperation, with India and Russia aiming to increase trade to $100 billion by 2030, Indian Ambassador to Russia Vinay Kumar has said.
In an interview with Russian news agency TASS, Kumar said the two leaders discussed the full range of bilateral relations on the sidelines of the BRICS summit held in New Delhi on September 12 and 13. Their discussions covered ways to deepen economic engagement and expand cooperation across sectors.
Kumar said the leaders had asked the relevant ministries and agencies to work towards expanding trade and commerce. The two countries are also targeting two-way investments of $50 billion by 2030. Their participation in the BRICS business summit and the visit to the Innoprom-India exhibition, the first Russian industrial exhibition held in New Delhi, were among the recent initiatives aimed at strengthening economic links.
Labour cooperation is another area being explored. Kumar said India was prepared to provide skilled workers according to Russia’s requirements. Indians account for around 25 to 30 per cent of Russia’s quota for foreign workers, he said, highlighting the potential for further cooperation in meeting workforce needs.
The ambassador pointed to India’s large working-age population and its capacity to train specialists for both domestic and overseas employment. He said India had proposed that Russia establish educational institutions in the country or collaborate with existing Indian institutions to train workers required by Russian industries.
The proposed trade and investment targets reflect efforts by both countries to expand their economic relationship. Achieving them will require stronger commercial links, improved cooperation between industries and progress in addressing practical challenges in trade, logistics and workforce development.