India-Russia trade hits USD 66 billion in 2024; target of USD 100 billion by 2030 on track: Russian envoy

A elder Russian diplomat connected Wednesday said bilateral commercialized betwixt the 2 countries has reached a grounds USD 66 cardinal successful 2024, marking a five-fold summation implicit the past 5 years, with a 9 per cent emergence successful the archetypal 8 months of this year.

The envoy said Russia and India are connected way to execute the ambitious USD 100 cardinal commercialized people by 2030, bolstered by expanding collaborations and diversified commercialized opportunities.

"The caller dialogues betwixt leaders of some countries connected the possibilities of diversifying the commercialized handbasket and expanding the measurement of investments successful aggregate sectors marque the people of USD 100 cardinal by 2030 an achievable one," said Maxim V Kozlov, Russian Consul General successful Kolkata, astatine an interactive league with members of the Bharat Chamber of Commerce (BCC).

"India and Russia are much than strategical partners; we are all-weather friends. Our enslaved is built connected communal spot and shared interests, making the maturation of our economical ties some earthy and enduring," Kozlov added.

Key sectors identified for enhanced practice see railways, pharmaceuticals, accusation technology, aviation, and cybersecurity.

Officials besides highlighted emerging opportunities for Indian businesses successful Russia, peculiarly aft the withdrawal of Western brands pursuing the Ukraine conflict.

BCC, successful a statement, said Kozlov besides emphasised the request to deepen collaboration successful captious areas specified arsenic Artificial Intelligence (AI), robotics, municipality development, and captious metals similar lithium, cobalt, and nickel, which are indispensable for next-generation industries.

"The extremity is to determination beyond earthy worldly commercialized and look arsenic planetary leaders successful technology-driven sectors," helium added.

BCC elder vice-president Naresh Pachisia requested Kozlov to initiate the mounting up of a commercialized table astatine the Russian Federation successful Kolkata, fixed the emerging commercialized and concern developments.

"This volition play a pivotal relation successful facilitating concern networks betwixt Indian businesses and their Russian counterparts." helium added.