EAM Jaishankar Welcomes Russian Deputy PM Denis Manturov To India
Russia's First Deputy Prime Minister, Denis Manturov, has arrived in India for a two-day visit starting November 11, 2024. This visit aims to strengthen trade and economic ties between India and Russia, with significant engagements planned in Mumbai and New Delhi.
On November 11, Manturov will participate in the plenary session of the Russian-Indian Business Forum in Mumbai. This forum is organized by the Business Council for Cooperation with India and the Federation of Indian Chambers of Commerce and Industry (FICCI). It will focus on enhancing collaboration among entrepreneurs from both nations across various sectors including industrial cooperation, transport, logistics, finance, and digital technologies.
The following day, Manturov will co-chair the 25th Session of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical, and Cultural Cooperation (IGC-TEC) alongside India's External Affairs Minister S. Jaishankar in New Delhi. This commission serves as the highest-level forum for bilateral economic collaboration, addressing ongoing initiatives and exploring new areas for cooperation.
Discussions during these meetings are expected to cover key issues such as improving payment mechanisms between the two countries, enhancing trade settlements in national currencies, and potential joint ventures like the construction of Vande Bharat trains by Russia's Transmashholding.
This visit underscores the commitment of both nations to deepen their strategic partnership and achieve a bilateral trade target of $100 billion by 2030, having already reached $30 billion before the initial target year of 2025.
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