Modi, Putin vow $100 billion trade by 2030 amid global sanctions
GS2Polity · Governance · IR· India's bilateral relations· Prelims + Mains·
India-Russia bilateral trade and strategic autonomy: a key GS2 International Relations case study.
Why in news
Prime Minister Narendra Modi and President Vladimir Putin met in Delhi to discuss the Programme for Economic Cooperation 2030, aiming for $100 billion in bilateral trade by 2030.
Background
The meeting took place in Delhi on September 11. The leaders discussed the INNOPROM India exhibition and the Programme for Economic Cooperation 2030, which targets $100 billion in trade by 2030.
Facts for Prelims
- FactTarget trade volume between India and Russia: $100 billion by 2030
- BodyINNOPROM India: Exhibition to boost bilateral trade between India and Russia
- BodyBRICS: Platform highlighted by Putin for economic cooperation amid global sanctions
Prelims practice question
Which exhibition is highlighted to boost bilateral trade between India and Russia?
- (a)Global Trade Summit
- (b)INNOPROM India
- (c)Expo India
- (d)Trade Fair 2030
Show answer
Answer: (b) INNOPROM India — The note identifies INNOPROM India as the exhibition to boost bilateral trade between India and Russia.
For Mains
Q. Discuss the significance of India's deepening economic and defense cooperation with Russia amidst evolving global geopolitical uncertainties and sanctions.
Dimensions to cover in your answer
- Strategic autonomy: Balancing trade ties with Russia while navigating Western sanctions
- Maritime security: Ensuring safety of Indian seafarers and trade routes in the Black Sea and Middle East
- Multilateralism: Utilizing BRICS as a platform for economic cooperation and conflict resolution
Keywords: Strategic Autonomy · Bilateral Trade · Geopolitical Uncertainty · Maritime Security · Economic Cooperation
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