India Keen on Tech Exchange with Russia, Eyes $200B Trade by 2030

YEKATERINBURG, July 6. /TASS/. India is keenly interested in technology exchange with Russia, with the parties holding negotiations in the biochemical industry sector, India’s ambassador to Russia Vinay Kumar said as he spoke at a session as part of the 16th Innoprom international industrial exhibition.

"People need products, and we need technologies in the agro-industrial sector. We are seeing growing cooperation and interest in our markets, and we are promoting the tourism industry," he said.

"We plan to increase trade turnover to $200 bln by 2030. We are exchanging technologies. We are very interested in such cooperation. We are also interested in cooperation regarding cybersecurity and green energy," the diplomat said.

The parties "are negotiating in the biochemical industry sector," he added. "We hope for investment in this area and are working to lower tariffs. We look forward to developing a cooperation strategy at the exhibition in India. We are ready to consider concluding new contracts," the ambassador noted.

The 16th International Industrial Exhibition Innoprom is taking place in Yekaterinburg from July 6 to 9. The partner country is the Republic of Indonesia. The event is organized by the Russian Industry and Trade Ministry and the Government of Russia’s Sverdlovsk Region. TASS is the event’s general news agency.

Innoprom will also be held in India (New Delhi) from September 9 to 11, and in Belarus (Minsk) from September 30 to October 2.