New Delhi: Russian President Vladimir Putin’s visit to India later today is expected to mark a “very, very important meeting” with Prime Minister Narendra Modi, one that could strengthen stability and contribute to the emerging global order, Dr. Ranjeet Mehta, CEO & Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI) said on Thursday.
Speaking to IANS, Dr. Mehta said the upcoming dialogue carries significant weight for both nations and could give a fresh boost to India–Russia economic engagement.
He emphasised that the meeting has the potential to enhance bilateral trade and investment while reinforcing the long-standing strategic partnership between the two countries.
“The engagement between Prime Minister Narendra Modi and President Putin will strengthen the stability and new global order,” he told IANS.
“There are three main reasons why this meeting is important. Number one, the investment opportunities for both the industries. Number two, India and Russia, they have very stable and time-tested strategic partnership,” Mehta added.
He noted that this visit offers an opportunity to expand cooperation beyond traditional sectors.
According to him, industries in both countries could see new avenues for collaboration as India and Russia look to diversify their economic engagement.
“This meeting gives an opportunity to diversify in various other fields as well. It also gives an opportunity to align the economic priorities between these two nations and it allows to look for new opportunities, especially in the field of defence, hydrocarbons, energy security and pharmaceuticals,” Mehta explained.
Looking ahead, Dr. Mehta said Russia may explore increasing imports from India, particularly in pharmaceuticals.
He pointed out that India, being one of the world’s largest generic drug manufacturers and a global pharmacy hub, has strong potential to expand its presence in the Russian market.
“India and Russia share a relationship built not only on stability but a deep historical shared interests,” he told IANS.
“Stronger trade links and deeper energy cooperation will help both economies grow in an uncertain and fast changing geopolitical environment, ” Mehta added.
(IANS)
