India and Russia are setting a target for $30 billion in bilateral trade by 2025 and the two countries are working towards developing a Free Trade Agreement (FTA) to facilitate that target, a Russian diplomat said here on Monday.
“India and Russia have set a bilateral trade target of $30 billion by 2025. This includes the sales of defence equipment, civil nuclear energy apart from other commodities,” Russian Consul General in Kolkata Alexey M. Idamkin said at a session on the current and future perspectives of Russia-India relations at the Bharat Chamber of Commerce here.
“That bilateral trade volume, that saw some decline till 2016, has witnessed a steady growth in 2017 and exceeded the mark of $8 billion which is 21 per cent higher than the previous year,” he said. Read More