Iran (IMNA) - Speaking at a press conference in New Delhi after meeting Indian Prime Minister Narendra Modi, Putin noted that last year trade turnover increased by another 12%, setting a fresh record. He stated that estimates vary slightly, placing the current volume at around $64–$65 billion, with forecasts indicating a similar level this year, but emphasized that achieving $100 billion in trade is feasible.
Putin explained that to reach this goal, a program for Russian-Indian economic cooperation until 2030 has been coordinated, outlining benchmarks for intergovernmental bodies to ease trade, expand joint initiatives, and reinforce technological and investment collaboration. He also confirmed that Moscow and New Delhi are cooperating on establishing a free trade zone between India and the Eurasian Economic Union.
Against the backdrop of Washington’s 50% tariff on Indian imports, partly linked to New Delhi’s purchase of Russian oil amid the conflict in Ukraine, Putin affirmed that Russia is prepared to continue guaranteeing uninterrupted fuel supplies to India. He further stated that Russia and India are steadily transitioning to national currencies in their financial transactions to avoid reliance on the dollar as a political instrument. According to Putin, the share of the ruble and the rupee in bilateral payments has now reached 96%.
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