The India-Russia Business Forum to be held in New Delhi as part of Russian President Vladimir Putin’s visit will deliberate on the theme of ‘Balanced trade, shared growth,’ as the two nations aim to boost bilateral trade to $100 billion by 2030.
Putin will arrive in New Delhi on Thursday for a two-day state visit. Moscow wants to improve its economic ties with India, the Russian president said ahead of his visit.
The business forum, which will be held on Friday, is being organized by the Roscongress Foundation and the Federation of Indian Chambers of Commerce and Industry.
Addressing the trade imbalance between the two nations is on the agenda of the Putin trip. India’s imports to Russia are estimated at $5 billion, and its imports are worth $64 billion.
Deputy Chief of Staff of the Russian Presidential Executive Office Maxim Oreshkin and Indian Commerce Minister Piyush Goyal will participate in a session titled ‘Sell to Russia: New Opportunities for Indian Business,’ on December 4.
The forum’s Russian participants include the ministers for economic development, health, and digital development, among others.
“Relations between Russia and India continue to develop into a close strategic partnership,” CEO of the Roscongress Foundation, Alexander Stuglev, said. “Bilateral cooperation of this nature is the result of intensive, ongoing political dialogue between the leaders of the two countries and the development of mutually beneficial, practical long-term cooperation between the two governments and the local business communities. And this is something we will discuss.”
The forum will discuss labor migration, cooperation in artificial intelligence and digital technologies, pharmaceuticals and healthcare, and the creation of a production corridor for textiles and automotive industries.
A business networking platform and B2B meetings between Russian and Indian enterprises will also be held, an official statement said.