India, Russia moving confidently to achieve USD 100 billion trade target by 2030: Ambassador
Moscow (PTI): India and Russia are moving confidently to achieve a target of USD 100 billion in bilateral trade by 2030 and steps are being taken to expand the trade basket, Ambassador Vinay Kumar said on Monday.
"The past year has been particularly active. We had a very successful visit of President (Vladimir) Putin. Achieving the bilateral trade target of USD 100 billion by 2030 is eminently possible,” Ambassador Kumar said while talking to PTI on India’s 77th Republic Day.
“Steps are being taken, including identification of new items, and a free trade agreement will facilitate the achievement of this target," he added, noting that trade has increased with new opportunities in fertilisers, agriculture and engineering.
According to reports, in FY 2024–25, India-Russia bilateral trade reached a record high of approximately USD 68.7 billion due to massive import of Russian crude.
"More of the trade is being conducted already in the national currencies and this trend will continue as we further deepen trade and economic ties,” the ambassador said.
Earlier, addressing the Indian community which gathered in large numbers at the embassy compound on the 77th Republic Day, Ambassador Kumar underscored the “active and result-oriented” phase in the bilateral relations between New Delhi and Moscow.
During Putin’s visit to New Delhi last month, Prime Minister Narendra Modi exuded confidence that the USD 100 billion bilateral trade target between India and Russia will be achieved ahead of 2030.
Speaking at the India-Russia Business Forum, along with Russian President Putin, Modi invited Russian businesses to 'come and Make In India...and partner with India'.
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Three company directors held in Rs 100-crore investment fraud in Kochi
Kochi (Kerala) (PTI): Police on Sunday arrested three directors of a firm accused of cheating hundreds of investors of over Rs 100 crore through a fake investment scheme linked to agricultural tourism here, officials said.
The accused were identified as Muraleedharan, Ashik Murali and Akhil Murali, all natives of Thrissur.
The arrests were made by the Kalamassery police in connection with a fraud involving ATCOS (Agri Tourism Cooperative Society), a firm headquartered at Pathadipalam here.
Police said the company had promised high returns by collecting investments from the public in the agricultural tourism sector, but allegedly cheated hundreds of people and fled with the money.
ATCOS was registered under the Multi-State Cooperative Societies Act and operated 13 branches across various districts in Kerala, besides a branch in Coimbatore in Tamil Nadu, officials said.
When investors failed to receive their promised returns or the invested amount, complaints were filed with the police.
Officials said around 54 cases have been registered against the firm in 32 police stations across the state, including 29 cases at the Kalamassery police station alone.
Following instructions from Kochi City Police Commissioner K S Mahesh Kumar, a special investigation team was formed under the supervision of Deputy Commissioner of Police (Law and Order) Shehensha and Thrikkakara ACP Manoj Kumar.
The team traced the accused to an apartment in Amala Nagar in Thrissur, where they had been hiding after secretly renting the flat, officials said.
The bank accounts of the accused have been frozen, and steps have been initiated to trace their assets, officials said.
Police also conducted a raid at the company’s office at Pathadipalam and seized several documents related to the case.
The accused were produced before the Judicial First Class Magistrate Court in Kalamassery, which remanded them to judicial custody and sent them to Kakkanad jail.
Police said they would seek the custody of the accused for further interrogation as the investigation continues.
