India-Russia BIT put on fast track; Piyush Goyal eyes pharma, textiles, engineering, chemicals and auto exports to boost non-energy trade

India and Russia aim to boost their bilateral trade to an impressive hundred billion dollars by 2030, focusing on growth in key sectors such as pharmaceuticals and textiles. A new bilateral investment treaty is set to enhance legal confidence for investors, while improvements in local currency settlement will ease transaction hurdles. Both countries are intensifying their initiatives to meet these ambitious trade and investment aspirations.

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