Due to the intense schedule
of international events, at the initiative of the Indian side, a decision was made to postpone the First Russian–Indian Economic Forum. The date and site of the event will
be announced later.
A number of bilateral events
with the participation of Russian and Indian governments is scheduled for the near future. A representative Indian delegation headed
by the Indian Minister of Commerce and Industry Suresh Prabhu will take an active part in the Eastern Economic Forum,
which will be held on 11–13 September in
Vladivostok.
India is one of Russia's
leading trade partners. By the end of 2017, mutual trade reached nearly $10 billion. In the first
half of 2018 it was worth $5.5 billion. The Russian President Vladimir Putin and the
Indian Prime Minister Narendra Modi have set a goal to increase mutual trade
between the countries to $30 billion by 2025. This will be facilitated by the
elimination of existing restrictions and barriers, development of top-priority
investment projects, strengthening of interregional cooperation and a number of
other actions.
Russian
business is quickly expanding its
presence on the Indian market: in addition to the traditional sphere of the
military-industrial complex, Russian energy, transport and logistics,
industrial production, trade and tourism companies are represented on the
Indian market. Indian companies also opened production units in Russia
specializing in pharmaceuticals, agroindustry, gem-cutting, textile and mining industries.
