🇷🇺🇮🇳 Denis Manturov took part in the Russian-Indian Business Forum

⚡️ Russia's First Deputy Prime Minister Denis Manturov and India's External Affairs Minister Dr S Jaishankar had a meeting with representatives of Russian and Indian businesses as part of the forum, which was held ahead of the 25th Session of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation.

🔘Amid the external economic pressure, Russia-India business relations continue to strengthen, and the countries demonstrate their readiness for further cooperation.

"An objective indicator of this is the record volume of trade turnover that we reached last year. And there are all the prerequisites to surpass this achievement this year. At the same time, in addition to the quantitative growth of mutual trade, it is important to diversify its structure. Not just to balance commodity flows, but also to increase the share of high-tech products. The conditions for this are formed by two national programmes that are similar in spirit. Bearing in mind the course towards technological sovereignty taken by the Russian Government and the "Make in India" programme. Both of these initiatives are aimed at accelerating the pace of production, developing innovations and removing infrastructure restrictions," underscored Denis Manturov.

⚡️ The First Deputy Prime Minister outlined the priority technological areas of Russia's development. Among them are:
• development of the transport industry, including the introduction of unmanned technologies and the transfer of vehicles to alternative fuels,
• increasing the potential of the nuclear sector, the production of high-power turbines, equipment for solar and wind generation, improving LNG technologies,
• providing the healthcare system with advanced medicines and medical devices, as well as strengthening Russia's leading positions in the areas of nuclear medicine, production of vaccines and development of the cell engineering segment,
• increasing agricultural productivity, including through genetic and biotechnology, precision farming systems, irrigation and reclamation technologies,
• building up competencies in high-tech means of production and technologies for the transition to a closed-cycle economy, as well as in space services.

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🇷🇺🇮🇳 First Deputy Prime Minister of Russia Denis Manturov and Minister of External Affairs of India Dr S.Jaishankar at the bilateral business forum

📍 Mumbai, November 11, 2024

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🇷🇺🇮🇳 On November 11, Russia’s First Deputy Prime Minister Denis Manturov had a meeting with India’s Prime Minister Narendra Modi.

💬 They discussed steps to implement the agreements reached during the talks between the leaders of the two countries, which took place on the sidelines of the 16th BRICS Summit in Kazan on October 22-24.

❗️ Particular attention was paid to issues of further strengthening of trade, economic, investment, energy and industrial cooperation.

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🇷🇺🇮🇳 On November 12, in New Delhi First Deputy Prime Minister of Russia Denis Manturov and Minister of External Affairs of India Dr S.Jaishankar co-chaired the 25th Session of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation.

📈 Over the past 5 years, the volume of mutual trade between the two countries has grown more than 5 times, and by 9% in the first 8 months of this year. The tasks of further expanding the range of goods and reducing the trade imbalance will be enshrined in the economic cooperation development programme till 2030.

🤝 The First Deputy Prime Minister confirmed the intention to conclude a free trade agreement between the EAEU and India, as well as a bilateral agreement on services and investments. He drew attention to the importance of expanding cooperation between Russian and Indian banks. Today, the share of settlements in national and alternative currencies reaches almost 90%.

"It is equally important to coordinate efforts in the transport sector. We are interested in expanding direct air traffic between our countries. We expect to increase the frequency of flights, develop the route network, and resume flights of Indian air carriers," noted Denis Manturov.

Special emphasis at the meeting was placed on the development of bilateral interaction in the spheres of energy, engine building and microelectronics, chemistry, metallurgy, digital technologies, railway engineering, as well as space exploration.

📖 The parties also discussed humanitarian cooperation, in particular in higher education. Denis Manturov underscored the need to simplify the procedure for mutual recognition of educational documents and academic degrees.

✍🏻 Following the meeting, the First Deputy Prime Minister of Russia and the Minister of External Affairs of India signed the final protocol of the 25th Session of the Russian-Indian IGC.

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🇷🇺🇮🇳 On November 12, during his visit to India, First Deputy Prime Minister of Russia Denis Manturov had a meeting with Finance Minister of India Nirmala Sitharaman.

💬 The parties discussed issues of interbank and credit-financial cooperation, as well as prospects for concluding an intergovernmental agreement on the promotion and mutual protection of investments.

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