Jaishankar's remarks, made while addressing the India-Russia Business Forum in Mumbai alongside Russia's first deputy prime minister Denis Manturov, came against the backdrop of New Delhi running up a trade deficit of $57 billion with Moscow.
The two countries need to find solutions to banking and payment-related issues, logistical challenges and market access, Jaishankar said. They should also expedite negotiations on a proposed India-Eurasian Economic Union free trade agreement and on a bilateral investment treaty, he said. "Our bilateral trade is today at $66 billion. This makes the goal of reaching $100 billion by 2030 more than realistic," Jaishankar said.
"The balance of trade, however, needs urgent redressal since it is so one-sided. It is imperative that non-tariff barriers and regulatory impediments are speedily addressed."
This story is from the November 12, 2024 edition of Hindustan Times.
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This story is from the November 12, 2024 edition of Hindustan Times.
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