On November 12, New Delhi hosted the 25th session of the Intergovernmental Russian-Indian Commission on Trade, Economic, Scientific, Technical, and Cultural Cooperation, co-chaired by Russia's First Deputy Prime Minister Denis Manturov and India’s Minister of External Affairs, Dr. S. Jaishankar. The meeting focused on strengthening bilateral ties, highlighting progress in trade, technology, and cultural cooperation.

Over the past five years, trade between Russia and India has seen substantial growth, increasing over fivefold and rising by 9% in the first eight months of this year alone. To sustain this growth and balance trade, both countries committed to a strategic economic cooperation development program set to run until 2030. A significant component of this effort is the proposed free trade agreement between India and the Eurasian Economic Union (EAEU), along with a bilateral agreement on services and investments.

Denis Manturov emphasized the importance of enhancing financial cooperation, noting that approximately 90% of current transactions are conducted in national or alternative currencies. This aligns with a joint objective to reduce reliance on third-party currencies, thereby facilitating smoother trade exchanges.

The two countries also discussed expanding transport links, with plans to increase flight frequency, extend route networks, and resume flights by Indian carriers. Manturov underscored the value of more direct air connections to improve people-to-people ties and ease of business.

In energy and technology, both parties highlighted areas for cooperation, particularly in fields like engine building, microelectronics, chemistry, metallurgy, digital technology, and space exploration. These sectors are viewed as vital for driving mutual economic and technological growth.

Humanitarian collaboration was also on the agenda, with a focus on higher education. Manturov proposed simplifying the mutual recognition of educational documents and academic degrees to facilitate academic exchanges and research collaboration between Russian and Indian institutions.

Concluding the session, both leaders signed a final protocol, solidifying the commitments made during the talks and outlining steps to enhance trade, technology, and cultural ties between Russia and India.