India, Russia attempt to expand economic relations

Moscow, Dec. 24 (ANI): Prime Minister Narendra Modi on Thursday highlighted the attempt by Russian President Vladimir Putin and himself to expand the economic relations between the two nations.

“President Putin and I are moving creatively in expanding our economic relations. Following our last Summit, India has created a special notified zone to facilitate direct trade between the world’s largest uncut diamond exporter, Russia, and India, which processes 90 percent of the world’s uncut diamond,” he said while addressing a joint press briefing with President Putin.

The second point that Prime Minister Modi added was that the two nations are working on logistics.

“Our Green Corridor project has taken off. The International North South Transit Corridor through Iran will significantly reduce transportation time and cost,” he said.

“Third, we are moving forward on the India-Eurasian Economic Union Free Trade Agreement. This will also benefit us in Central Asia,” Prime Minister Narendra Modi added.

In the fourth point, Prime Minister Modi said, “we are encouraging our private sector to connect with each other more. We have just had an excellent meeting of CEO Forum. The agreements and the announcements today give me confidence that we will see huge increase in investments and trade in both directions.”

The Prime Minister also thanked President Putin for his ‘generous and warm hospitality’.

“You are the architect of the India-Russia strategic partnership. And, in a changing world, your leadership has kept our relations on a steady course of progress and growth,” he said. (ANI)

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