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Russia, India to boost trade turnover to $100 bln — Putin

The Russian leader noted that a program for the development of Russian-Indian economic cooperation until 2030 has been agreed upon

NEW DELHI, December 5. /TASS/. Moscow and New Delhi could increase trade turnover to $100 bln, Russian President Vladimir Putin said during a joint statement following his meeting with Indian Prime Minister Narendra Modi.

"Last year bilateral trade [between Russia and India] added another 12%, setting another record. The figures vary according to different statistics, but overall, it's somewhere around $64-65 bln. It's projected that trade volume will remain roughly at the same level by the end of this year. That said, it seems that we are capable of bringing those figures to the $100 bln mark," he stated.

To achieve such a significant goal, a program for the development of Russian-Indian economic cooperation until 2030 has been agreed upon, Putin noted. "This comprehensive document sets clear guidelines. The intergovernmental commission, ministries and departments of the economic bloc of the two countries are tasked with eliminating barriers to the flow of goods and capital, implementing joint industry projects, and deepening technological and investment cooperation," he explained.

A substantial package of intergovernmental, interdepartmental, and corporate agreements has been signed, Putin added. "Many of them are aimed at expanding economic cooperation between Russia and India. And this is quite natural as our countries are important partners in trade, investment, and technology," he said.