India Russia Trade Agreement

The table below shows recent Indo-Russian bilateral trade performance: Putin visited India with Russian defense and foreign ministers for a visit, during which the two countries strengthened relations with a military and technical cooperation pact by 2031 and a commitment to increase annual trade to $30 billion by 2025. Russia and India on Monday signed a wave of trade and arms deals during President Vladimir Putin`s visit to New Delhi for talks with Prime Minister Narendra Modi, including one in which India will produce more than 600,000 Kalashnikov assault rifles. G20 leaders back WTO reform ahead of Trump-Xi trade talks The two sides look forward to intense engagement on issues ranging from opportunities to deepen bilateral cooperation on trade, connectivity and energy to regional security concerns such as the situation in Afghanistan, people familiar with summit planning said. on condition of anonymity. India is currently the largest diamond cutting and polishing center in the world. The two countries agreed to streamline their bilateral diamond trade by reducing regulations and tariffs. Indian Prime Minister Modi said in an interview: “I have made three proposals to President Putin. First of all, I want Alrosa to have long-term direct contracts with more Indian companies. I am glad to know that they are moving in that direction.

Second, I want Alrosa and others to trade directly on our diamond exchange. We have decided to create a notified special area where mining companies can exchange diamonds on consignment and re-export unsold diamonds. Thirdly, I have asked for the regulation to be reformed so that Russia can send rough diamonds to India and re-import cut diamonds without additional customs duties. [52] [53] Analysts predict that bilateral trade in this area will increase significantly through streamlined procedures and initiatives. [49] In the 1980s, despite the assassination of Prime Minister Indira Gandhi by Sikh separatists in 1984, a pillar of the hot relations between India and the Soviet Union, India maintained close relations with the Soviet Union. The new Indian Prime Minister Rajiv Gandhi, who expressed the high priority of relations with the Soviet Union in Indian foreign policy, visited the Soviet Union on his first state visit abroad in May 1985 and signed two long-term economic agreements with the Soviet Union. According to Rejaul Karim Laskar, a specialist in Indian foreign policy, Rajiv Gandhi developed a personal relationship with Soviet General Secretary Mikhail Gorbachev during the visit. [23] Gorbachev`s first visit to a Third World state was again his meeting with Rajiv Gandhi in New Delhi in late 1986. General Secretary Gorbachev unsuccessfully urged Rajiv Gandhi to help the Soviet Union build an Asian collective security system.

Gorbachev`s approval of this proposal, also made by Leonid Brezhnev, was an indication of the continued Soviet interest in using close ties with India as a means of containing China. With the improvement of Sino-Soviet relations in the late 1980s, containment of China became less of a priority, but close ties with India remained important as an example of Gorbachev`s new Third World policy. Relations with India have always been one of our country`s top foreign policy priorities and I am sure they will be one of our country`s top foreign policy priorities. Our bonds of mutual friendship are full of sympathy, trust and openness. And we must say frankly that they have never been overshadowed by disagreements or conflicts. This understanding is indeed the common heritage of our peoples. It is appreciated and appreciated in our country, Russia and India. And we are justifiably proud of such close relations between our countries.

India and Russia are putting the finishing touches on the defence, trade, space, technology and energy agreements that will be signed at the annual summit between Prime Minister Narendra Modi and President Vladimir Putin on December 6. Now, collaboration is not limited to a buyer-seller relationship, but includes joint research and development, training, service-to-service contacts, including joint exercises. The last joint naval exercises were held in April 2007 in the Sea of Japan and joint airborne exercises in September 2007 in Russia. .