Moscow, Prime Minister Narendra Modi's visit to Russia and his talks with President Vladimir Putin will focus on bilateral trade and economic ties and some new areas of scientific and technological research, India's ambassador to Russia said, expressing his confidence that the conversations will produce results. "tangible results" in many areas. Prime Minister Modi will be in Moscow from July 8 to 9 at the invitation of President Putin for the 22nd Annual India-Russia Summit. It will be Modi's first visit to Russia since Moscow invaded Ukraine in February 2022.
The two leaders will review the entire gamut of multifaceted relations between the two countries and exchange views on contemporary regional and global issues of mutual interest, the Ministry of External Affairs in New Delhi said on Thursday while announcing the high-level visit that will begin on Monday.
Speaking to ideos about Modi's visit, Indian Ambassador to Russia Vinay Kumar said that a broad dialogue on trade, economic and investment cooperation and connectivity will be a key focus of discussions during Modi's visit. .
"This is part of the annual summits held by the two countries and hence the agenda would cover a whole range of issues in our bilateral relationship," Kumar said.
When asked about possible decisions in the areas of energy and defence, Kumar said: "We have a set of documents that we are working on. Some of those agreements relate to trade and economic ties and also in some new areas of connectivity, and science and technology". So I hope we have tangible results in many of these areas."
Kumar agreed that trade imbalance remains an important area that needs to be addressed and the matter is likely to be discussed during the prime minister's visit.
A rebound in bilateral trade "has created a significant deficit situation for India", he said, while expressing hope that some decisions are likely to address the problem.
"Therefore, we will discuss these issues and also work to expand the trade basket, both in terms of products and volume. Some new export areas include agricultural and processed food products, automobile components, engineering goods and pharmaceutical products," said. the said.
This will be Modi's first visit to Russia in almost five years. His last visit to Russia was in 2019 when he attended an economic conclave in the Far Eastern city of Vladivostok.
The annual summit between the Prime Minister of India and the President of Russia is the highest mechanism of institutional dialogue in the strategic partnership between the two countries.
So far 21 annual summits have been held alternately in India and Russia.
The last summit was held on December 6, 2021 in New Delhi. President Vladimir Putin had visited India to attend the summit.
Indian imports of discounted Russian crude oil have also increased significantly despite the G7 price cap and growing unease over procurement in many Western capitals.
According to figures from the Department of Commerce, in fiscal year 2023-24, bilateral trade reached an all-time high of $65.70 billion, according to the Indian Embassy in Russia.
India's main export items include pharmaceuticals, organic chemicals, electrical machinery and mechanical appliances, iron and steel, while Russia's main import items include petroleum and petroleum products, fertilizers, mineral resources, stones and precious metals, vegetable oils, etc.
The two leaders will review the entire gamut of multifaceted relations between the two countries and exchange views on contemporary regional and global issues of mutual interest, the Ministry of External Affairs in New Delhi said on Thursday while announcing the high-level visit that will begin on Monday.
Speaking to ideos about Modi's visit, Indian Ambassador to Russia Vinay Kumar said that a broad dialogue on trade, economic and investment cooperation and connectivity will be a key focus of discussions during Modi's visit. .
"This is part of the annual summits held by the two countries and hence the agenda would cover a whole range of issues in our bilateral relationship," Kumar said.
When asked about possible decisions in the areas of energy and defence, Kumar said: "We have a set of documents that we are working on. Some of those agreements relate to trade and economic ties and also in some new areas of connectivity, and science and technology". So I hope we have tangible results in many of these areas."
Kumar agreed that trade imbalance remains an important area that needs to be addressed and the matter is likely to be discussed during the prime minister's visit.
A rebound in bilateral trade "has created a significant deficit situation for India", he said, while expressing hope that some decisions are likely to address the problem.
"Therefore, we will discuss these issues and also work to expand the trade basket, both in terms of products and volume. Some new export areas include agricultural and processed food products, automobile components, engineering goods and pharmaceutical products," said. the said.
This will be Modi's first visit to Russia in almost five years. His last visit to Russia was in 2019 when he attended an economic conclave in the Far Eastern city of Vladivostok.
The annual summit between the Prime Minister of India and the President of Russia is the highest mechanism of institutional dialogue in the strategic partnership between the two countries.
So far 21 annual summits have been held alternately in India and Russia.
The last summit was held on December 6, 2021 in New Delhi. President Vladimir Putin had visited India to attend the summit.
Indian imports of discounted Russian crude oil have also increased significantly despite the G7 price cap and growing unease over procurement in many Western capitals.
According to figures from the Department of Commerce, in fiscal year 2023-24, bilateral trade reached an all-time high of $65.70 billion, according to the Indian Embassy in Russia.
India's main export items include pharmaceuticals, organic chemicals, electrical machinery and mechanical appliances, iron and steel, while Russia's main import items include petroleum and petroleum products, fertilizers, mineral resources, stones and precious metals, vegetable oils, etc.
