New Delhi: India and Russia are in talks for a free trade agreement to guarantee investment between the two countries, Russia’s deputy prime minister said today. On a two-day visit to India, Russian Deputy Prime Minister and Minister of Trade and Industry Denis Manturov primarily attended an inter-governmental meeting on trade, culture, and science and technology.
The Deputy Prime Minister will hold a slew of meetings, including external affairs minister Dr. S Jaishankar, National Security Advisor (NSA) Ajit Doval, and commerce Minister Piyush Giyal, eyeing a larger share of Indian investments across the resource-rich country.
As Mr. Manturov is accompanied by a delegation of 95 high-power members, they met Dr. S. Jaishankar. “The sides plan to discuss the widest range of issues of bilateral trade, economic, and humanitarian cooperation. Mr. Manturov will also hold a number of bilateral meetings during his stay”, read a statement from Russian Embassy.
India is on track to host the G20 Summit in September and President Vladimir Putin is expected to arrive in India for the event. Mr. Chistukhin’s presence is indicative of essential discussions that the two sides may carry out on the financial front. Also, Russia and India are in talks about resorting to the rupee-ruble mechanism to safeguard bilateral trade from the impact of Western sanctions.