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international setting in which we should place our Cooper. The world is moving towards ever greater multipolarity and devising appropriate methods of Cooper. Operation is essential if we are to keep up. Moreover, Russia has consciously focused more deeply on Asia since 2022. This has created many more avenues of Co-operation. That we have a long history of strong convergence and deep friendship allows us to make the best of both factors. That the two economies are so complementary is also a key consideration. A partnership between an India that has an 8% growth rate for multiple decades ahead and a Russia that is a key natural resources provider as well as a major technology leader will serve both of them and the world. Well, keeping that in mind, ladies and gentlemen, let me highlight 10 significant developments that we need to take note of one. Our bilateral trade today is US dollars 66 billion. This makes the goal of reaching US dollars 100 billion by 2030 more than realistic two. The balance of trade, however, needs urgent redress. Since it is so one sided, it is imperative that non tariff barriers and regulatory impediments are speedily addressed for this to happen. Three. The India Eurasian Economic Union trade and goods negotiations commenced in March this year. We need to vigorously take it forward for the first ever bilateral investment forum took place in Moscow in April 2024. We also need to expedite negotiations on the bilateral investment treaty. Five. The programme for Co-operation in regard to the Russian Far East from 2024 to 29 was signed in July during the annual summit. It encourages other related activities, including in the connectivity sphere. Six. Mutual settlement of trade in national currencies is of great importance, especially in the current circumstances. Special rupee vs accounts are right now an effective mechanism. However, even in the short run, a better trade balance with national currency settlements is obviously the answer. Seven. Signing of a bilateral agreement between our customs authorities of the two countries in May 2024 on authorised economic operators has had a big impact on smoothing the ease of doing trade eight three connectivity initiatives and the Deputy first deputy Prime Minister mentioned it as well. Three. connectivity initiatives between us, the, uh International North-south transport corridor, the Chennai Vladivostok corridor and the northern maritime route all need continued attention if we are to realise their full potential. Nine. A growing Russian appreciation of make in India as a programme to deepen business will certainly help to take forward our Co-operation in many, many domains. And finally I flagged your attention the importance of noneconomic domains such as education, uh, film as contributions to a larger societal, but also economic connect between us. Now all of these issues the 10 that are listed they're all expressions of the task that our leaders have given during the annual summit to develop a comprehensive economic partnership between India and Russia. In fact, they have also charged us with developing a programme of economic co-operation till 2030 on which work is currently underway. So, ladies and gentlemen, I'm sure you will agree that the business community of both countries should take note and appreciate the strong direction given by the governments to take forward our trade and investment ties. It is natural that there would be concerns concerns such as banking and payment related issues, concerns like logistical challenges, including shipping, insurance and reinsurance, as well as market access issues. Obviously we have to find solutions that work to the comfort level of those who are actually involved in trade. I'm confident that today's gathering and the sessions that will follow will facilitate an open exchange of views in this regard, with the expectation of coming up with mutually beneficial and workable answers. Prince, we are all aware of the complementary nature of our respective economies. If we recognise that fully, then it also follows that our approach is not transactional but aimed at building long term partnerships in energy domains such as oil, gas, coal or uranium. India will always be a major player in the international markets. This applies as well to the demand for fertilisers of various kinds. Constructing a mutually beneficial arrangement will help us both address the volatility and the uncertainty of our times. The emergence of a global workplace is also today an increasing reality. Demographic unevenness has created demand and supply imbalances across the world. India and Russia can be partners in this regard as well. It would require a focused initiative that customises human resources in India for the Russian market that is best done with the active participation of businesses. Friends. Tomorrow, the India Russia Intergovernmental Commission will be meeting in Delhi to take stock of our bilateral Cooper. Your deliberations can provide a valuable input for policymakers to consider. We look forward to receiving these at the conclusion of this forum. Thank you for your attention. Thank you. His Excellency Dr SJ Shankar for bringing all the light, All the energy in the room. Thank you so much.