Russia and India plan to increase trade between the countries from $11 to $30 bln by 2025, the volume of mutual investments could grow by $15 billion, Russia’s Minister of Economic Development and Trade Maxim Oreshkin said in an interview with Rossiya 24 TV channel within the Eastern Economic Forum (EEF-2019).
"From the point of view of the targets that we will achieve - $30 bln turnover, this is not only trade, but also mutual investment. We are talking about $15 bln of additional investments that will come from India to Russia and from Russia to India," he said.
At the same time, Oreshkin noted that the range of Russian-Indian investments should be expanded, investments from Russia should come not only in the sphere of oil refining in India. "Right now there are significant Russian investments in India, but they are essentially concentrated in one industry - oil refining. We are talking about the need to expand the range of investments," he said.
With the participation of Indian capital, five investment projects are being implemented. The estimated volume of investment is over 53 bln rubles ($798.05 mln).