New Delhi: Russia and India are working on increasing bilateral trade volumes, Kremlin spokesman Dmitry Peskov said on Wednesday, as the two countries pursue a trade target of USD 100 billion by 2030 from USD 60 billion now.

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Peskov, who attended the 12th Primakov Readings international academic and expert forum, also said that Russia and India share a notably privileged partnership.

He said that Russia and India are working to expand trade and economic relations. “We are pleased to note that this volume is showing a steady uptrend. We will keep working along these lines.”

During President Vladimir Putin's visit to India in December last year, the two countries set the bilateral trade target of USD 100 billion by 2030.

“India is the world's most populous country, one of the fastest-growing economies, and a nation brimming with potential across all sectors,” Peskov was quoted as saying by the state-run TASS news agency.

“Our relationship is further reinforced by our joint participation in various international organisations. We highly value this partnership and are dedicated to enhancing our cooperation and exploring new horizons together,” he said.

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Later, he called India “one of the biggest countries,” which shows a very high development pace.

“The country which over the last 25 years has covered a big gap when it comes to economic and social development. And Mr (Narendra) Modi, the prime minister, has been very successful,” he told Russia Today.

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