India and Russia Pledge to Boost Bilateral Trade Amidst Global Tensions

During a meeting in Moscow, External Affairs Minister S Jaishankar and his Russian counterpart Sergey Lavrov emphasized the importance of expanding bilateral trade between India and Russia in a sustainable and balanced manner. Jaishankar highlighted the need to swiftly address non-tariff barriers and regulatory impediments to facilitate this growth.

The discussions between the two countries come at a time of strained relations between India and the US over trade policies, particularly in light of President Donald Trump’s stance on tariffs. Despite this, both India and Russia reaffirmed their commitment to enhancing two-way trade, with a focus on increasing Indian exports to Russia.

Jaishankar emphasized the enduring nature of the relationship between India and Russia, citing geopolitical convergence, leadership contacts, and popular sentiment as key drivers of their strong ties.

Joint Efforts Against Terrorism

Aside from trade discussions, Jaishankar and Lavrov also deliberated on collaborative efforts to combat terrorism. Both ministers expressed a shared commitment to fighting all forms of terrorism and highlighted India’s resolve to adopt a zero-tolerance policy towards terrorism, particularly cross-border threats.

Jaishankar’s visit to Moscow aimed to finalize arrangements for Russian President Vladimir Putin’s upcoming visit to India, scheduled for November or December.

Focus on Trade Expansion

Jaishankar underscored the importance of enhancing bilateral trade, particularly in sectors such as pharmaceuticals, agriculture, and textiles. Addressing non-tariff barriers and regulatory impediments is crucial to correcting the current trade imbalance and increasing Indian exports to Russia.

The ministers also discussed the long-term supply of fertilizers, the potential for Indian skilled workers to meet labor needs in Russia, and the significance of sustaining energy cooperation through trade and investments.

Global Governance and Regional Issues

India and Russia reiterated their commitment to reforming global governance, including expanding and energizing the UN Security Council to reflect contemporary realities. The two countries also discussed regional issues in Ukraine, West Asia, and Afghanistan, emphasizing the importance of dialogue and diplomacy in resolving conflicts.

Jaishankar highlighted the ongoing preparations for the annual India-Russia summit, aiming to maximize outcomes through bilateral discussions.

Energy Cooperation and Trade Dynamics

Energy ties between India and Russia were a key topic of discussion, particularly in light of recent tariffs imposed by US President Trump on Indian goods due to the continued purchase of Russian oil. India defended its procurement of Russian crude oil as driven by national interest and market dynamics.

Jaishankar’s meeting with Russian First Deputy Prime Minister Denis Manturov focused on a wide range of issues, highlighting the deep-rooted collaboration between India and Russia in various international forums.