Jaishankar Invites Russian Companies to Boost Ties with India
In Moscow, External Affairs Minister S. Jaishankar has urged Russian companies to work more closely with their Indian counterparts. He pointed out that India has created many opportunities for foreign businesses, making it an attractive market.
Speaking at the India-Russia Business Forum, Jaishankar emphasized the longstanding relationship between the two nations. He stressed the need for stronger economic connections, especially in a time of global uncertainty.
“The ‘Make in India’ initiative and others are opening new doors for foreign firms,” he noted. He explained how modern India’s growth and urbanization are creating new demands, and invited Russian businesses to engage more deeply with Indian companies. Jaishankar highlighted that as India’s economy continues to grow, there is a significant need for reliable resources.
He mentioned essential supplies such as fertilizers, chemicals, and machinery, and pointed out that India’s expanding infrastructure presents many business opportunities for firms with a good track record.
Jaishankar’s call for collaboration comes ahead of the deadline for increased tariffs from the U.S. on Indian imports. President Donald Trump recently raised tariffs, citing India’s oil trade with Russia.
Strengthening Economic Cooperation
Jaishankar further declared that while India and Russia share a solid relationship, their economic cooperation hasn’t fully mirrored this stability. He acknowledged that while trade has increased, the trade deficit has also grown. To achieve balanced trade, both countries need to work harder together.
He encouraged more investment ventures and partnerships, stating that a successful strategic partnership must include a strong economic foundation. Jaishankar and Russia’s first deputy prime minister, Denis Manturov, aim to send a clear message about the importance of this economic collaboration.
Lastly, Jaishankar called for better alignment between government discussions and business initiatives to enhance economic ties between India and Russia.
