Foreign Minister S Jaishankar and Russian Deputy PM Denis Manturov on Tuesday explored measures to push trade.

“Trade turnover between Russia and India exceeded $35b,” stated Russian Deputy PM during his meeting with Jaishankar here on Tuesday. According to Jaishankar, for the period April, 2022 to February, 2023, the trade waas about $45 billion and it is expected to soar further.

During the meeting, the two sides discussed cooperation in the areas of trade, finance, industry, energy sector, including nuclear power, agriculture, transport, healthcare, education and culture.

On Monday, Manturov and Jaishankar met with representatives of the Russian and Indian businesses at a closed door business Forum.

The business forum participants had discussed issues of further enhancement of the Russian-Indian practical cooperation, including within the Intergovernmental Commission (IGC).

Indian business representatives got acquainted with a new measure of support – a cluster investment platform-which can be applied in joint projects. It provides soft loans for the development and manufacturing of priority products, subsidies for pilot batches, preferences for insurance premiums and income tax.

Manturov noted there is no goal to completely replace everything. “We will rely on trusted foreign partners…,” he stressed.