01:17 GMT08 August 2020
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    New Delhi seeks to expand trade ties with Russia.

    NEW DELHI (Sputnik) — The Indian government said Thursday that it had approved a Memorandum of Understanding (MoU) with Russia on expansion of bilateral trade and economic cooperation.

    "The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing the Memorandum of Understanding (MoU) between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation," the statement published by the Indian government's Press Information Bureau (PIB) said.

    The statement added that the MoU was expected to expand trade and economic ties between the two nations.

    Moscow and New Delhi have maintained a close partnership in a number of spheres, including economy and military and technical cooperation since the 1960s. According to the Russian Export Center, bilateral trade between the two countries reached $9.2 billion in 2015.


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