India and Russia discussed “trade deficit” during the just-concluded India-Russia Inter-governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC). The meeting was co-chaired by Denis Manturov, Deputy Prime Minister and Minister of Trade and Industry from Russia and External Affairs Minister S. Jaishankar.
“The sides reviewed the entire gamut of bilateral trade and economic relationship, and agreed to work together to unlock its full potential including addressing the trade deficit and market access issues,” said the MEA in a press note.
Speaking at a business event organised by the FICCI on Monday, Mr. Manturov flagged the issue of payments in bilateral trade that had deepened in the backdrop of the western sanctions on Russia. Apart from interacting with Mr. Jaishankar, the Russian Minister also met Union Commerce and Industry Minister Piyush Goyal, Finance Minister Nirmala Sitharaman and National Security Adviser Ajit Doval.
“The visit is in continuation of the regular high-level dialogue between the two Sides,” the press note said.
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