New Delhi: Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman met Denis Alipov, Ambassador of the Russian Federation to India, in New Delhi today. The meeting focused on strengthening bilateral financial and economic cooperation, facilitating trade, encouraging investment and exploring opportunities to enhance financial connectivity.
The discussions assume significance against the backdrop of the longstanding India–Russia Special and Privileged Strategic Partnership, which was established in 2000 and elevated to its present status in 2010. Over the years, the relationship has expanded across a wide range of areas, including trade, investment, defence, energy, science and technology, nuclear cooperation and cultural exchanges.
Both countries are also working towards expanding bilateral trade to US$100 billion by 2030. The economic cooperation agenda includes diversifying trade, improving payment mechanisms, addressing trade and logistics barriers, promoting business-to-business engagement and advancing discussions on a Free Trade Agreement between India and the Eurasian Economic Union.
Energy remains another important pillar of the partnership, with cooperation spanning oil, gas, coal, fertilisers and civil nuclear energy. The two countries are also exploring ways to strengthen transport and logistics links through initiatives such as the International North-South Transport Corridor and the Chennai–Vladivostok Maritime Corridor.
Defence and security cooperation, supported by institutional mechanisms and regular high-level exchanges, continue to be significant dimensions of bilateral ties. India and Russia also engage closely through multilateral platforms, including BRICS, the G20, the Shanghai Cooperation Organisation and the United Nations.
During the meeting, both sides reaffirmed their commitment to further deepening the longstanding India–Russia partnership, with particular emphasis on stronger financial linkages, increased trade and investment flows, and mutually beneficial economic engagement.