As External Affairs Minister S Jaishankar held talks with Russian Deputy PM and Trade Minister Denis Manturov, India and Russia signed agreements to facilitate the construction of future units of the Kudankulam nuclear project in Tamil Nadu. During his 5-day visit to Russia, Jaishankar emphasized the strong partnership between the two countries in areas like defense, space, and nuclear power.

The agreements signed between India and Russia will further strengthen collaboration and cooperation in defense, space, and nuclear energy. Jaishankar highlighted the importance of collaborations with countries that have a high degree of trust.

India’s crude imports from Russia have witnessed a significant increase in recent years. Both sides expressed confidence in further boosting bilateral trade and aiming for an annual trade volume of $100 billion, up from the current $50 billion.

In addition to the agreements on the Kudankulam nuclear project, Jaishankar announced that negotiations on a free trade agreement between India and the Eurasian Economic Zone will commence soon. This agreement would further enhance economic ties between the two regions.

Jaishankar also addressed the trade payment issue between Russia and India. He acknowledged the unusual situation and stated that efforts are being made to find ways for banks to deal with each other. He emphasized the importance of transparency and confidence in trade relations.

The External Affairs Minister expressed optimism about India’s economic growth and its increasing influence on the world stage. He noted that India has progressed from being the 10th largest economy a decade ago to the 5th largest today. Jaishankar envisages India’s steady upward trajectory, aiming to become the 3rd largest economy in the future.

Overall, Jaishankar’s visit to Russia highlights the deep-rooted strategic partnership and the commitment to further strengthen bilateral ties between India and Russia.