Thu Aug 21 01:16:14 UTC 2025: Here’s a summary and news article based on the provided text:
**Summary:**
Amidst escalating trade tensions with the US (a 50% tariff on Indian goods), Indian External Affairs Minister S Jaishankar is actively promoting increased trade and economic cooperation with Russia. He highlighted India’s growing economy, the “Make in India” initiative, and the need for reliable resource partners as opportunities for Russian businesses. He emphasized diversifying and balancing trade, pushing for more investments, joint ventures, and collaboration between the two nations. He also highlighted the signing of Terms of Reference for a Free Trade Agreement with the Eurasian Economic Union, aiming to further bolster economic ties and called upon businesses to step forward.
**News Article:**
**India Seeks Stronger Economic Ties with Russia Amid US Tariff Hike**
**Moscow:** Amidst rising trade tensions with the United States, India is actively seeking to deepen its economic partnership with Russia, with External Affairs Minister S Jaishankar urging Russian companies to increase their engagement with the Indian market. The move comes after the US imposed a 50% tariff on certain Indian goods.
Speaking in Moscow, Minister Jaishankar emphasized India’s rapid economic growth, initiatives like “Make in India,” and its demand for reliable resource partners as prime opportunities for Russian businesses. He cited India’s $4 trillion GDP and 7% growth rate, highlighting its need for assured supplies of essential products like fertilizers, chemicals, and machinery. He also pointed to infrastructure development as fertile ground for enterprises with established track records.
“These dimensions represent an invitation for Russian companies to engage more intensively with their Indian counterparts,” Jaishankar stated.
He underscored the long-standing, stable relationship between India and Russia, but noted that economic cooperation has lagged behind. “Both the diversification and balancing of trade now urgently mandate more strenuous efforts on our part,” he said. He called for increased investments, joint ventures, and other forms of collaboration to promote growth and accelerate development.
A significant step toward strengthening economic ties is the signing of Terms of Reference for a Free Trade Agreement between India and the Eurasian Economic Union. Jaishankar expressed confidence that this agreement will make a substantial difference once concluded.
This push for deeper economic ties with Russia arrives as India faces increasing protectionist measures from the US, including a substantial tariff hike on Indian goods.
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