In a speech before the Indo-Russian Business Forum in Mumbai, Manturov pointed to the continued growth in the volume of trade between the two countries, expecting it to exceed the record recorded in 2023 this year, which reached $65 billion.
He also pointed out the importance of diversifying the nature of goods exported between the two countries, by increasing the share of exports of goods not related to raw materials and high-tech products.
Manturov reported that India has become the second largest importer of crude oil from Russia over the past two years. He also expressed Russia’s interest in organizing long-term supplies of liquefied natural gas and coal to India. He said: “Russian coal companies have significant resources and are interested in expanding their presence in the fast-moving Indian market.” Growth.”
In turn, Indian Foreign Minister Subrahmanyam Jaishankar, who also delivered a speech at the business forum, stressed that the two countries have “many new ways” to expand cooperation and that bilateral trade can easily reach the goal of $100 billion by 2030.
Before that, Manturov told reporters that Russia plans to increase non-related exports of raw materials and energy resources to India from $3.2 billion recorded in 2023 to $8 billion by 2030.
The Russian First Deputy Prime Minister pointed out the possibility of shipping goods from Russia to China through the Northern Shipping Corridor and through the “North-South” transport corridor, which connects Russia and the Eurasian countries with the Gulf region.
Manturov is on an official visit to India in order to participate in the meeting of the joint governmental committee between the two countries for trade, economic, scientific, technical and cultural cooperation. The committee meeting is scheduled to be held tomorrow, Tuesday.
Source: RT
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**Interview with Dmitry Manturov: Russian Minister of Industry and Trade**
**Editor:** Thank you for joining us today, Mr. Manturov. You recently spoke at the Indo-Russian Business Forum in Mumbai. Can you share your thoughts on the current state of trade between India and Russia?
**Manturov:** Thank you for having me. The trade relationship between India and Russia continues to flourish. It’s encouraging to see that we are on track to exceed previous records in trade volume. The mutual interest in strengthening our economic ties is evident.
**Editor:** That sounds promising. What specific sectors are driving this growth?
**Manturov:** A variety of sectors are contributing, including defense, energy, pharmaceuticals, and technology. We are particularly focused on collaborations that support innovation and sustainable development, which align with both nations’ strategic goals.
**Editor:** Are there any challenges you foresee as this trade relationship expands?
**Manturov:** While challenges always exist, such as logistical issues and regulatory hurdles, we are committed to addressing these collaboratively. Our governments are in constant dialogue to create a favorable environment for businesses to thrive.
**Editor:** Looking ahead, how do you envision the future of Indo-Russian trade relations?
**Manturov:** As we move forward, I see immense potential for diversification and investment. We aim to foster deeper partnerships that will not only enhance trade but also contribute to the socio-economic development of both nations.
**Editor:** Thank you, Mr. Manturov, for your insights. It sounds like exciting times are ahead for India and Russia!
**Manturov:** Thank you. Indeed, I firmly believe in the bright future of our partnership.