India and Russia have started talks on a free trade agreement to further enhance their economic ties, which have deepened since Western countries imposed sanctions on Moscow for its invasion of Ukraine.
Russia's Trade and Industry Minister and India's Foreign Minister attended a business event in New Delhi on Monday. Both expressed eagerness to step up negotiations on a trade treaty.
India has now become a major buyer of Russian oil.
The country's overall imports from Russia in the 12 months through March nearly quadrupled from the previous period, to about 46 billion dollars.
New Delhi wants to narrow its growing trade deficit with Moscow, which has been India's largest supplier of military equipment for decades.
Experts say the trade talks signal a clear step closer in the two countries' economic relations, even as Western countries are pushing India to distance itself from Russia.
India hasn't explicitly criticized Russia's invasion of Ukraine. Instead, it has called for a peaceful resolution of the conflict through dialogue.
Russia's Trade and Industry Minister and India's Foreign Minister attended a business event in New Delhi on Monday. Both expressed eagerness to step up negotiations on a trade treaty.
India has now become a major buyer of Russian oil.
The country's overall imports from Russia in the 12 months through March nearly quadrupled from the previous period, to about 46 billion dollars.
New Delhi wants to narrow its growing trade deficit with Moscow, which has been India's largest supplier of military equipment for decades.
Experts say the trade talks signal a clear step closer in the two countries' economic relations, even as Western countries are pushing India to distance itself from Russia.
India hasn't explicitly criticized Russia's invasion of Ukraine. Instead, it has called for a peaceful resolution of the conflict through dialogue.
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Summary
India and Russia are discussing a potential free trade agreement to strengthen their economic ties, which have increased due to Western sanctions against Moscow for Ukraine's invasion. The countries' leaders met in New Delhi on Monday to speed up negotiations on the trade treaty. India has become
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ID: 888e059d-c190-4a04-bb2d-94085dc1bb8f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230418_39/
Date: April 18, 2023
Created: 2023/04/19 07:43
Updated: 2025/12/09 04:53
Last Read: 2023/04/19 08:08