S Jaishankar’s 10 suggestions that can make India-Russia best friends

India-Russia Relation: Foreign Minister Dr. S Jaishankar highlighted 10 important developments and said that we need to focus on these.

India-Russia Relation: While addressing the India-Russia Trade Forum in Mumbai, Foreign Minister Dr. S Jaishankar said, “Russia has focused more on Asia since 2022, creating opportunities for cooperation. Our strong historical ties and deep friendship allow us to take advantage of both factors. Both economies are complementary, which is also an important thought. A partnership with India, which will grow at a rate of 8% for many decades to come, will be good for both countries and the world.”

While addressing the India-Russia Trade Forum in Mumbai, Foreign Minister Dr. S Jaishankar said, “I want to highlight 10 important developments that require our attention.”

These 10 things need to be improved

1) Our bilateral trade is currently $66 billion. It is rational to aim to reach $100 billion by 2030.
2) We need to immediately improve the trade balance as it is very one-sided.
3) The India-Eurasian Economic Union trade agreement began in March this year. We need to take it forward vigorously.

4) The first bilateral investment forum will be held in Moscow in April 2024.
5) During the annual summit in July, we signed a cooperation program for 2024-29 regarding Russia’s Far East, which also includes the connectivity sector.

6) Mutual trade agreements in national currencies are very important, especially in current circumstances.
7) The bilateral agreement on authorized economic operators signed in May 2024 between our two countries’ customs authorities has had a significant impact on facilitating trade.

8) We need to continuously focus on the three connectivity initiatives – the International North-South Transport Corridor (INSTC), the Chennai-Vladivostok corridor, and the Northern Sea Route if we want to realize their full potential.

9) Russia’s growing appreciation for the “Make in India” program will certainly help take our cooperation forward in many areas.
10) I want to draw your attention to the importance of non-economic sectors like education or film, which contribute to a larger social and economic connection between us.”