According to the Indian Minister of External Affairs, Subrahmanyam Jaishankar, Moscow and New Delhi are in talks over a free trade deal.
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India and Russia are holding discussions on a free trade deal to boost their growing economic ties, the countries’ foreign ministers announced on Monday at a business dialog meeting in New Delhi.
According to Indian Minister of External Affairs Subrahmanyam Jaishankar, New Delhi is in “advance agreement” on a trade deal, which Russian Trade and Industry Minister Denis Manturov said would bring a guarantee of bilateral investment.
Russia is traditionally a supplier of military equipment to India. This year, it has displaced Iraq as the South Asian nation’s top supplier of oil. India’s overall imports from Russia have nearly quadrupled, reaching $46.33 billion in the year to March 31, according to Jaishankar.
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