MUMBAI, November 11. /TASS/. Trade turnover between Russia and India may exceed $60 bln by the end of this year, Russian First Deputy Prime Minister Denis Manturov told reporters. In 2023, trade turnover between the two countries reached $65.7 bln.
"We plan to surpass the $60 bln mark by the end of the year, and we are confident that there is more to come for economies of Russia and India, which are bound by many years of close cooperation," he said. Moscow together with Indian partners will address further growth of mutual trade results, Manturov added.
The task of developing trade ties, production and technological cooperation between the countries is the responsibility of business, he noted, adding that the two countries’ business circles see eye to eye now.
"Record trade turnover volumes reached last year are objectively indicative of this, and there are all prerequisites to surpass that level as early as this year," Manturov said at the Russian-Indian business forum that is taking place in Mumbai.
Apart from growth in mutual trade volumes, it is necessary to diversify the trade structure, meaning not only to bring flows of commodities to balance but also to increase the share of non-resource, high-tech products, he noted.