India and Russia Friday expressed their support to promoting bilateral trade in national currencies and pledged to increase economic cooperation through joint ventures in different sectors.
The two sides also noted that the two-way investment will increase to USD 30 billion by 2025.
Efforts would be made to further increase and diversify the trade, a joint statement issued after the 19th India-Russia annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin said while observing that bilateral trade in 2017 increased by more than 20 per cent.
"The (two) sides expressed their support to promoting bilateral trade in national currencies," the statement said.
India and Russia, it added, "reviewed the progress on the achievement of the goal to increase two-way investment to USD 30 billion by the year 2025 and noted with satisfaction that both countries were on the way to achieving this target."
Disclaimer: No Business Standard Journalist was involved in creation of this content