India and Russia discuss free trade agreement
India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscow’s invasion of Ukraine, Arab News reports.
India and Russia discuss free trade agreement
The Economics of Geography

India and Russia discuss free trade agreement

Denis Manturov speaking in New Delhi (Photo: AFP/Imtiyaz Khan)
Eurasia 18/04/2023 16:05

India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscow’s invasion of Ukraine, Arab News reports.

According to the news site, Russia’s Deputy Prime Minister Denis Manturov and India’s Foreign Minister Subrahmanyam Jaishankar held a meeting with business leaders from the two countries on Monday as part of Manturov’s two-day visit to the South Asian country.

A free trade deal will mark a step up in India-Russia economic relations as New Delhi maintained expanding ties with both Russia and the West amid the war in Europe, which it has not explicitly criticised, the article adds.

“We will rely on trusted foreign partners. We will make every effort to expand our cooperation ties,” Manturov said. "Particular importance is attached to the issues of mutual access of products to the markets of both countries. Together with the Eurasian Economic Commission, it is planned to intensify negotiations with India to conclude a free trade agreement," he added.

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