NEW DELHI, Oct 14Currently, the mutual trade turnover of the Russian Federation with India is about 50 billion dollars a year, but the potential is much greater, said Chairman of the Federation Council Valentina Matvienko.
“Our trade and economic cooperation has been developing very actively recently. Mutual trade turnover over the past year and a half, an unprecedented story, has grown fivefold. Previously, it was about 10 billion, now the volume of mutual trade turnover is about 50 billion dollars. The potential of our countries is much greater, we need to continue active interaction in this area,” said the Speaker of the Federation Council during a meeting with the Chairman of the People’s House of the Parliament of India Om Birla.
Speaking about relations between Russia and India, Matvienko noted that they are developing “increasingly, progressively — in a variety of areas.”
“It seems to me that the role of the parliaments of our countries should be more active — including in implementing the agreements that are reached at the highest level between Mr. (Russian President Vladimir — ed.) Putin and Mr. (Indian Prime Minister Narendra) Modi — meaningful, aimed at mutually beneficial, mutually respectful cooperation,” said the politician.
Matvienko noted that a parliamentary friendship group of the Federal Assembly and the Parliament of India has been created in the Russian Federation, but it has not yet begun work, “we need to work together to launch it” . The representative of India noted that the country will do everything possible for this. “Along with this, we could establish interaction between our specialized committees through video conferencing and other formats. This is a useful exchange of experience,” she concluded.