Indian External Affairs Minister S. Jaishankar and Russian Deputy Prime Minister Denis Manturov will co-chair the India-Russia Intergovernmental Commission (IGC-TEC) meeting in New Delhi on November 12. The focus will be on addressing trade imbalances and achieving a trade target of $100 billion by 2030.

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• India and Russia aim to deepen trade, aiming for $100 billion by 2030.
• Jaishankar and Manturov to co-chair IGC-TEC on November 12 in New Delhi.
• Meeting to address India’s trade imbalance, with India’s exports below $5 billion.
• Manturov will also attend an India-Russia Business Forum in Mumbai on November 11.
• Business Forum to focus on cooperation in digital tech, logistics, finance, and industry.
• IGC-TEC established in 1992 as main platform for India-Russia economic cooperation.
• Meeting agenda includes payment mechanisms and settlements in national currencies.
• India-Russia joint venture to build Vande Bharat trains also under discussion.
• Sectors like civil aviation, energy, IT, and banking will be reviewed for cooperation.
• Recent BRICS Summit reinforced India’s commitment to cybersecurity and anti-terrorism.