External Affairs Minister Dr. S Jaishankar has said that India and Russia are on track to achieve a target of 30 billion dollars annual trade turnover. He was speaking at the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation in Moscow today. Dr Jaishankar said, the cooperation between the two countries continues to make steady progress. He said, the economic cooperation between India and Russia is moving towards long-term stability, but this needs to be balanced if it is to be sustainable. The Minister expressed confidence that both the countries will be successful in realizing the optimum potential of the trade and economic relations. Dr Jaishankar said, he is looking forward to continue to work together in the same spirit to strengthen our bilateral trade and economic relationship.
External Affairs Minister stated that buying oil from Moscow works to India’s advantage and asserted that he would “like to keep that going”. He said, there is stress on the world’s energy markets, and being the third largest consumer of such oil and gas it is the need to look for affordable sources as the incomes are not that high. He stressed the fact that it was the government’s fundamental obligation to make sure the Indian consumer has the best possible access to the resources. He said that India- Russia has had an exceptionally steady, time-tested relationship and would continue the way it is. Dr Jaishankar discussed with his counterpart on strengthening a durable and balanced partnership and also exploring cooperation in trade, investments, energy, fertilizers, pharma, agriculture, and shipping.
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