India and Russia announce joint statement on economic cooperation for period up to 2030

Following the 22nd Annual Bilateral Summit between Russia and India held on July 8-9, 2024 in Moscow, Vladimir Putin, President of the Russian Federation, and Narendra Modi, Prime Minister of the Republic of India, having held a thorough exchange of views on current issues of bilateral practical cooperation and the development of the Russia-India Special and Privileged Strategic Partnership. Both the nations are seeking to give additional impetus to the deepening of bilateral interaction by promoting Russia-India trade and economic cooperation, guided by the intention to maintain the trend of dynamic growth of trade in goods and services between the two states and the desire to ensure a significant increase in its volume by 2030. The countries have highlighted the following nine key areas as a part of the declaration: