India-Russia Business Dialogue 2023

On April 17th, the inaugural session of the “India-Russia Business Dialogue” 2023 took place in New Delhi, and it was attended by External Affairs Minister S Jaishankar and Russian Deputy Prime Minister Denis Manturov.

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India-Russia Business Dialogue 2023: Key Points To Note:

• Representatives of Russian and Indian businesses met at the India-Russia Business Dialogue 2023 in New Delhi.
• The forum discussed enhancing practical cooperation between Russia and India, including the Inter-Governmental Commission (IGC).
• S Jaishankar, India’s External Affairs Minister, announced that India and Russia have already surpassed their bilateral trade target of $30 billion before the target year of 2025.
• Connectivity initiatives such as the International North-South Transport Corridor and the Eastern Maritime Corridor (Chennai-Vladivostok Corridor) were discussed.
• Payment issues need to be worked out clearly, and the expansion of the network under the settlement of international trade in Indian Rupees through the Special Rupee Vostro Account System was mentioned.
• Mutual access of products to the markets of both countries is being given special attention.
• Russia and the Eurasian Economic Commission are trying to accelerate negotiations on a free trade agreement with India.

Russia: Important Facts:

• Capital of Russia: Moscow
• Prime Minister: Mikhail Mishustin
• Currency: Russian ruble
• President: Vladimir Putin
• Official Language: Russian.

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