Great news from Moscow: India and Russia just cranked their trade partnership to eleven! 🤜🤛 On Thursday, India's Minister of External Affairs Subrahmanyam Jaishankar met Russian Foreign Minister Sergei Lavrov for power-packed talks aimed at supercharging bilateral trade.
Despite hefty U.S. tariffs of up to 50% on Indian goods over oil purchases, both sides shrugged off the pressure. India insists its deals with Russia are purely commercial, while Western countries claim these purchases fund conflicts far away.
At a joint press conference, Lavrov noted, "We have good results in cooperation in the hydrocarbon sector, in the supply of Russian oil to the Indian market. And we have a mutual interest in implementing joint projects for the extraction of energy resources, including in the Russian Federation – in the Far East and on the Arctic shelf." Oil & ice, anyone? 🧊🛢️
Jaishankar highlighted the rock-solid friendship dating back to the Soviet era and stressed the need to balance trade by boosting Indian exports of pharmaceuticals, agriculture, and textiles. "Trade expansion requires swiftly addressing non-tariff barriers and regulatory impediments," he said.
Next steps on their to-do list:
- Tackle pesky regulations slowing down exports 🛂
- Scale up joint energy projects 🚀
- Explore fresh avenues in agri and pharma 🌱💊
This dynamic duo is ready to reshape global markets, and we can't wait to see what comes next! Stay tuned for more updates. ✨
Reference(s):
India, Russia agree to boost trade ties after FMs meet in Moscow
cgtn.com
