India and Russia today discussed the proposed Free Trade Agreement, FTA encompassing Eurasian nations, in order to boost the India-Russia economic and strategic ties. <br/><br/>The operationalisation of the International North South Transport Corridor that will cut the time and cost for cargo movement was also discussed. Commerce and Industry Minister Nirmala Sitharaman and Russian Trade and Industry Minister Denis Manturov held a bilateral meeting in Chennai, before inauguration of the India Engineering Sourcing Show (IESS) with Russia as the Partner Country in the flagship annual event of EEPC India. <br/><br/>Addressing a press conference, Sitharaman said both the countries agreed that there is enormous potential to enhance the bilateral trade which is presently at USD 6.62 billion. She informed that other measures to enhance the trade ties including the proposed Free Trade Agreement (FTA) between India and the Eurasian Economic Union were also deliberated upon. <br/><br/>Both countries also noted the need to finalise a revised bilateral investment treaty. The minister said, all these measures, including the FTA and work on the ground on several MoUs, would help take the bilateral trade to USD 30 billion by 2025.