NEW DELHI, September 10. /TASS/. Hosting the first Innoprom exhibition in India demonstrates that Moscow and New Delhi are moving from words to action in trade and economic cooperation, Indian Minister of Commerce and Industry Piyush Goyal said at the plenary session of the Innoprom India international industrial exhibition currently taking place in New Delhi.
"For over a decade, Innoprom, the global industrial technology exhibition, has been the platform where Russian engineering and manufacturing present themselves to the world. This week, for the first time in its history, that platform has come to India, and that, to me, says more about where our two nations now stand, ready to move from protocols to production, from intent to industry," he said.
According to Goyal, the leaders of Russia and India now expect more than just a continuation of the current course from their respective governments and business communities. "It is acceleration," he noted, recalling the goal set by the heads of state to raise bilateral trade to $100 billion and mutual investments to $50 billion by 2030.
"A 100 billion target from a 60 billion base means adding about 40 billion dollars in the next four years. That is not a modest task. It requires more than double-digit growth year on year, sustained, and it requires significant effort from both sides, not just from government, but equally from our business," Goyal noted, adding that there are abundant opportunities, and one need only look at the figures.