Diplomatist Magazine Diplomatist October 2019 | Page 35

we have signed the Action Strategy for advancing
bilateral Trade-Economic and Investment
Cooperation at the Vladivostok Summit, which
would further streamline our dedicated eff orts.
are invited to participate in modernization of sea-
and airports in the Far-Eastern region.
In recent years, trade between
India and Russia has been around $10
billion, but both countries are absent
in their respective list of top 15 trading
partners. In which areas do you see
room for improvement?
No doubt that the progress in implementation of
agreements in the above and other related directions
would stimulate the expansion of the bilateral
dialogue on other topics including mutual trade
and investment cooperation.
Some important measures are in the pipeline
to this end. Particularly, we are working on
the re-establishment of the direct Vladivostok-
Chennai maritime sea route, which would support
to overcome a connectivity gap between the
two countries. The work is going on to raise the
eff ectiveness of the North-South Transport Corridor
by the introduction of the high-tech solutions
for shipment satellite surveillance and further
synchronization and facilitation of customs regimes.
Moreover, we are investing a lot to an early
conclusion of the Free Trade Area (FTA) between
the Eurasian Economic Union (EAEU) and India,
which will not only bring an impetus to further
liberalization for trade but also stimulate overall
economic exchanges among the member states of
the future arrangement.
Remarkably, we also tend to employ the
growing quality of mutual participation in huge
trade and investment fora held in both countries.
Along with the Saint-Petersburg International
Economic Forum and Vibrant Gujarat and some
others, the Eastern Economic Forum (EEF)
becomes an extremely important platform for the
promotion of the structured bilateral dialogue as
well as B2B and P2P exchanges.
Russia and India are committed to ensuring
trade facilitation through the extended use of
national currencies. In mutual payments, national
currencies volumes have increased fivefold
in recent years – up to 32% in 2018. Both our
countries are deeply engaged in the dedicated
fi nancial dialogue in the framework of the bilateral
Working Group on Banking and Financial Matters
as well as in BRICS.
All the measures being undertaken in this regard
would defi nitely make our goal to achieve the
turnover up to USD 30 bn by 2025. Importantly,
Russia and India
are committed
to ensuring
trade facilitation
through the
extended use
of national
currencies.
In mutual
payments,
national
currencies
volumes have
increased
fi vefold in recent
years – up to
32% in 2018.
One of the most promising and at
the same time challenging areas of
Russia-India relationship is cooperation
in science & technology. The history
of bilateral ties proves that Moscow
and New Delhi managed to build
successful collaboration in S&T. What
lies ahead for Russia-India scientifi c and
technological partnership?
Our two countries are blessed with a
tremendous quality of human capital with a strive
for innovations in our DNA. Historically, we have
developed a solid scientifi c and technological base,
which helped us to successfully cooperate in this
area for decades already. Starting with the support
of the Soviet Union in the Indian industrialization,
now we have reached an advanced partnership.
Relevant offi cials and scientists enthusiastically
implement long-term programmes covering joint
research in science and technology as well as the
development of high-tech products in such spheres,
like telecommunications, robotics, artificial
intelligence, nanotechnologies, space, pharmacy
and others. At the Vladivostok Summit, the two
sides signed the MoU between the Department of
Science & Technology of the Republic of India
and the Ministry of Economic Development of
the Russian Federation for cooperation in the fi eld
of Innovation.
In the era of digitalization we are naturally
involved in a dialogue on the Fourth Industrial
Revolution with the goal to narrow down the
technological gap between developed and
developing countries.
Considering the competitors of
Russia in the Indian arms market, what
steps Russia is undertaking in this
direction?
Let’s be very clear on that: healthy competition
helps to fi nd new ways for improvement, while
artifi cial limitations such as illegitimate unilateral
sanctions and geopolitically motivated pressure
imposed by some countries do create uncertainty
and mistrust in the markets.
We have no reason to be afraid of both since
the achieved advanced level of the Russian-Indian
Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 10 • October 2019, Noida • 35