NEW DELHI: Denis Manturov, the visiting Russian minister of trade and industry, revealed on Monday that Russia and India are discussing a free trade agreement (FTA), which might improve trade ties between the two countries.

Even though Europe and the United States urged India to cut ties with Russia in response to the latter's invasion of Ukraine in February of last year, it is likely that the two countries FTA negotiations will further advance their commercial ties.

Over the previous year, India's imports from Russia increased by more than four times to $46.33 billion, primarily as a result of purchases of oil there.

During a business event, Manturov stated, "We give special attention to the issues of mutual access of production to the markets of our countries.

He continued by saying that Russia, along with the Eurasian Economic Commission, was eager for the free trade talks with India to go quickly.

The Covid-19 epidemic, which was also present at the occasion, halted discussions on an FTA between the two nations, but S. Jaishankar, the minister of external affairs, expressed hope that they would pick up shortly.

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