(This article is originally published by the business Today )
Russian President Vladimir Putin, who was scheduled to visit India in late 2020, may now visit the country during the first six months of the next year, said Russia’s ambassador to India, Nikolay Kudashev. With this, the high-level exchanges including the annual bilateral summit between India and Russia will take place next year.
Kudashev informed that a free trade deal may be signed next year between India and the Eurasian Economic Union (EAEU), which comprises of countries like Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
The bilateral commission for military cooperation between the two nations could be convened during early 2021.
“If we talk about which documents and agreements were decisive for the trade and economic agenda and which agreements and documents need to be formalised next year, then I would probably mention the following–well, first of all, there is an interesting agreement on formalising a deal on a free trade zone between India and the EAEU…Several rounds of technical negotiations took place,” said the ambassador.
Russia and India may sign several bilateral agreements in 2021 that includes a deal on protecting and promoting investment while adding that the two countries also plan to update the current deal on avoiding double taxation.
Putin visited India in 2018, where the two countries signed $5 billion S-400 air defence system deal. At that time, Prime Minister Narendra Modi and Putin also signed eight pacts, including cooperation on India’s ambitious human space mission project Gaganyaan.