India seeks to achieve bilateral trade target with Russia: Sushma

Moscow (Russia): External Affairs minister Sushma Swaraj, who is on a three-day visit to Russia, representing India at the Eastern Economic Forum said that her visit to Russia reflects the strong commitment of India to strengthen cooperation with the country.

She said that there is a need for enhancing trade, commerce and investment with the Russian Far East to achieve the target of 30 billion U.S. Dollars for bilateral trade, by the year 2025.

She said “The Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world. There is lot that can be done together. When other markets are closing, we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith.”

“Greater trade, commerce and investment with the Far East will help us in achieving the target of 30 billion U.S. Dollars that we have set for our bilateral trade by the year 2025,” she added.

“Bridge the knowledge gap between our business communities. We need to create a network of partnerships and better understand the laws and regulations in each other’s countries. Second, identify areas of common interest and potential, keeping in mind the mutual strengths and complementarities,” the External Affairs Minister said, while listing the objectives to be attained by her participation in the third Eastern Economic Forum.

Sushma also said that India would provide an annual grant of 10,000 US Dollars to fund the study of Indology at the Centre of Regional and International Studies in this University.

She said that under the Make in India and Start-up India, the Indian Government has made concerted efforts to attract technology, investments and best practices from across the world.