India and Russia intend to increase trade exchange to $ 100 billion

India and Russia are trying to increase the annual trade exchange between them by about 50% over the next five years to reach $ 100 billion by reducing customs duties, in light of the increase in tension with the United States, a senior official said. Indian Foreign Minister Supramaniam Gaishhankar said during a visit to Moscow on Wednesday that the two countries should remove commercial obstacles and reduce the obstacles for non -pleasant to achieve this goal. Russia is the fourth largest commercial partner for India, while India is classified as the second largest trading partner for Russia. Russian -Indian approach forms the visit of Gaishhankar the latest episode in a series of diplomatic movements with the institutions of the ‘Brics’ group of emerging economies, all of which have faced high customs duties and commercial threats of US President Donald Trump. The Indian Foreign Minister is on a three -day visit to Moscow to participate in the annual bilateral dialogue, in a move that is expected to pave the way later this year for President Vladimir Putin to India. Also read: Moody calls Putin to visit India amid tension with Washington and without calling the United States directly or its commercial policy, Gaishhankar said during the Indian Russian business forum in Moscow that the state of increasing uncertainty in the world confirms the importance of “reliable and stable partners.” He added: “We all realize that we are meeting under a complicated geopolitical scene. The relationships between our leaders are still now and regular.” A gradual departure from Washington, India, gradually moved away from the United States in light of threats of customs duties. This week, Prime Minister Narendra Modi praised President Vladimir Putin and described him as a ‘friend’ after a phone call between them, while New -Delhi also strengthened her relationship with China. Moody is scheduled to visit China at the end of August – its first visit to the country in seven years – to meet President Xi Jinping. US President Donald Trump and officials in his administration have criticized India’s purchases of Russian oil, considering that it helps Putin finance his war against Ukraine. Donald Trump’s Donald Trump imposed a 25% customs on Indian goods and threatened to double them to 50% on August 27, a percentage that would make India’s annual exports to the United States, which would amount to $ 85 billion, and could not compete. India has its right to buy from the cheapest available resources, considering that customs duties are ‘illogical’. And it confirms that the benefit of Russian oil lies in the possibility of obtaining it at a low price, making it an important tool to combat local inflation. Gaishhankar suggested that India and Russia should diversify the trade in a systematic way, and to encourage more joint projects between the companies of the two countries, as well as periodic meetings to address barriers, including payment systems.