New Delhi, 5 December (H.S.): Prime Minister Narendra Modi on Friday invited Russian entrepreneurs and investors to come to India and explore opportunities in co-production, co-exploration, and co-manufacturing, stressing that the goal of India–Russia cooperation extends beyond trade to ensuring “the welfare of all humanity.”
Addressing the India–Russia Business Forum in New Delhi alongside Russian President Vladimir Putin, Prime Minister Modi emphasized that both nations must work together to find sustainable solutions to global challenges. He underlined the need for joint training programmes to prepare Indian manpower for work opportunities in Russia, noting that India’s vast pool of skilled youth can meet global workforce demands.
Referring to Russia’s demographic trends, the Prime Minister said, “India has a large base of trained human resources capable of addressing the world’s manpower needs. Together, our countries can train Indian professionals to gain proficiency in Russian language and industrial skills.”
Expressing confidence about the future of bilateral trade, Prime Minister Modi said that the target of USD 100 billion in trade by 2030, set during his previous meeting with President Putin, is likely to be achieved ahead of schedule. He attributed this progress to expanding cooperation and India’s ongoing measures to simplify business processes and enhance ease of doing business. He also confirmed that discussions have begun on a Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU).
“Whether it is business or diplomacy, the foundation of every partnership is mutual trust,” Modi said.
“Trust is the greatest strength of India–Russia relations. It not only provides direction but also momentum to our shared efforts. It is the launchpad that inspires us to aim higher and realize new aspirations together.”
Highlighting sectoral synergies, Prime Minister Modi noted that India leads globally in electric vehicles (EVs) and CNG mobility, while Russia is a major producer of advanced materials. He said collaboration in these sectors could support both nations’ needs and also contribute to the development of the Global South.
He further added, “For the past 11 years, our journey of reforms has neither paused nor faltered. Our determination is stronger than ever, and we are moving forward with great confidence toward realizing our national goals.”
The Prime Minister underlined that India’s drive toward a developed nation by 2047 includes opening new sectors such as civil nuclear energy to private participation, after previously liberalizing defence and space industries. Reforms in GST compliance and regulatory frameworks, he added, have further made business operations easier and more transparent.
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Hindusthan Samachar / Jun Sarkar
