Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ News / World/  'Russia is looking at Asia, and for India it could mean….': MEA during FTA talks
BackBack

'Russia is looking at Asia, and for India it could mean….': MEA during FTA talks

Jaishankar during the Free-trade agreement talks opined that India's relation with Russia is now a point of scrutiny and increased attention among world leaders as unlike expectation post the Russia-Ukraine war, the ‘partnership between the two countries has not changed’

**EDS: TWITTER IMAGE VIA @ficci_india** New Delhi: External Affairs Minister S. Jaishankar addresses during the India-Russia Business Dialogue, organised by FICCI, jointly with the Russian Business Council for Cooperation with India, in New Delhi, Monday, April 17, 2023. (PTI Photo)(PTI04_17_2023_000119B) (PTI)Premium
**EDS: TWITTER IMAGE VIA @ficci_india** New Delhi: External Affairs Minister S. Jaishankar addresses during the India-Russia Business Dialogue, organised by FICCI, jointly with the Russian Business Council for Cooperation with India, in New Delhi, Monday, April 17, 2023. (PTI Photo)(PTI04_17_2023_000119B) (PTI)

External Affairs minister S Jaishankar on Monday said that the diplomatic relations between India and Russia are a subject of ‘attention and comment’. Jaishankar's comment come amid an ongoing war between Russia and Ukraine, wherein the world has mostly chosen sides, whereas India has refused to issue sanctions or marginalise Russia, unlike the West. 

Jaishankar during the Free-trade agreement talks opined that India's relation with Russia is now a point of scrutiny and increased attention among world leaders as unlike expectation post the Russia-Ukraine war, the ‘partnership between the two countries has not changed’. 

“Our partnership today is a subject of attention and comment, not because it has changed but because it hasn’t. We share a commitment to a multipolar world." Jaishankar said at the event. 

Jaishankar told an event in New Delhi his government was in "advance agreement" on a trade treaty that Russia's Trade and Industry Minister Denis Manturov said would bring a guarantee of bilateral investment.

Stressing on the growing ties between India and Russia Jaishankar also said, “India and Russia have historic people-to-people ties. When we are talking about exploring new areas, I would flag that if more direct flights are provided for more tourists’ purposes"

India has not explicitly criticised Russia's invasion of Ukraine - which Moscow describes as a "special military operation" - and has called for a peaceful resolution of the conflict through dialogue.

“Russia is looking towards Asia and for India, it could mean broadening of ties. What we make of the current situation depends very much on us" Jaishankar added. 

The Free Trade Agreement, if finalised, would deepen bilateral commercial ties that have flourished since war broke out in Ukraine.

Last month Russia became India's top supplier of crude oil. Overall Indian imports from Russia increased almost fourfold to $46.33 billion in the year to 31 March.

Jaishankar said Indian business could benefit from Russian technology and that New Delhi was working to iron out payments, certification and logistics issues.

India's imports from Russia more than quadrupled to $46.33 billion over the last fiscal year, mainly through oil.

"We pay special attention to the issues of mutual access of production to the markets of our countries," Russian Deputy Prime Minister Denis Manturov, who is also the trade minister, told an event in New Delhi.

"Together with the Eurasian Economic Commission, we are looking forward to intensifying negotiations on a free trade agreement with India."

(With agency inputs)

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 17 Apr 2023, 05:08 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App