New Delhi: Prime Minister Narendra Modi and Russian President Vladimir Putin have directed their governments to expand bilateral cooperation as the two countries work towards increasing trade to USD 100 billion by 2030, Indian Ambassador to Russia Vinay Kumar said.
The two leaders discussed the full range of bilateral relations on the sidelines of the BRICS summit in New Delhi on September 12 and 13, according to Kumar, who spoke in an interview with the Russian news agency TASS.
One of the concrete results of this cooperation was the joint participation of the leaders in the BRICS business summit and their visit to the Innoprom-India exhibition, which marked the first Russian industrial exhibition held in New Delhi.
Kumar noted that the leaders instructed relevant ministries and agencies to further develop cooperation in trade and commerce. Both nations are continuing to work towards increasing bilateral trade to USD 100 billion and achieving two-way investments of USD 50 billion by 2030.
On the topic of labor cooperation, the ambassador stated that India aims to provide Russia with the required number of skilled workers in line with its needs. Indian nationals currently account for approximately 25 to 30 percent of Russia's quota for foreign workers.
Kumar highlighted that India, with a population approaching 1.5 billion, is positioned to become a global center for skilled personnel, noting that the average age of the Indian workforce is 29 years.
Because India trains specialists for both its domestic market and overseas employment, New Delhi has proposed that Russia either establish educational institutions in India or partner with existing Indian institutions to train workers specifically needed by Russian industries.