Putin to Meet Modi in Bishkek as Trade Aims for $100 Billion by 2030
GS2Polity · Governance · IR· India's bilateral relations· Prelims + Mains·
Why in news
Russian President Vladimir Putin and Indian External Affairs Minister S. Jaishankar discussed a target of $100 billion in bilateral trade by 2030 during the 27th India-Russia Inter-Governmental Commission meeting.
Background
The meeting took place in the context of the upcoming SCO summit in Bishkek, Kyrgyzstan. India and Russia aim to reach a $100 billion trade milestone by 2030 while addressing current trade imbalances.
Facts for Prelims
- PlaceBishkek is the capital of Kyrgyzstan.
- BodySCO: Shanghai Cooperation Organisation is a regional political, economic, and security alliance.
- FactTarget bilateral trade between India and Russia is set at US $100 billion by 2030.
- PostS. Jaishankar serves as the Minister of External Affairs of India.
For Mains
Q. Discuss the significance of the India-Russia trade relationship in the context of India's 'Look East' and 'Act East' policies and the evolving global trade order.
Dimensions to cover in your answer
- Trade imbalance issues
- Strategic autonomy
- Energy security
- SCO's role in regional integration
Keywords: Bilateral trade · Trade imbalance · Strategic partnership · Economic cooperation · SCO
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