Ira Singh
India and Russia have agreed to advance negotiations on a Bilateral Investment Treaty (BIT) aimed at creating a mutually beneficial framework to boost investment flows and deepen economic engagement between the two countries, according to the Finance Ministry.
Union Finance Minister Nirmala Sitharaman recently met Denis Manturov, First Deputy Prime Minister of the Russian Federation, in New Delhi as part of Russian President Vladimir Putin’s delegation.The two sides discussed ways to further strengthen economic cooperation, with the proposed investment treaty forming a key part of the discussions.“It was agreed to advance negotiations on a Bilateral Investment Treaty (BIT), with a view to establishing a mutually beneficial framework for enhancing investment flows and economic engagement,” the Finance Ministry said in a post on X.
Sitharaman and Manturov also discussed opportunities to strengthen cooperation in the financial services sector.The development comes as India and Russia seek to expand their longstanding strategic partnership through greater economic and investment cooperation. Advancing the BIT negotiations is expected to provide a stronger framework for investment-related engagement and encourage greater participation by businesses from both countries.The discussions also underline the growing focus on strengthening financial and economic ties alongside the broader India-Russia strategic relationship.
(Business Correspondent)
