# India-Russia

• India and Russia are in advanced negotiations for a new bilateral investment treaty that is necessary to boost the confidence of investors.
• Negotiations for a free trade agreement between India and the Eurasian economic union have been interrupted due to pandemic.
• Russian deputy prime minister Manturov is in India to chair, along with S. Jaishankar the India-Russia intergovernmental commission on trade, culture, science and technology.

# WPI

• Wholesale price inflation slowed to a 29 month low in March on the back of a high base and easing prices of several commodities, manufactured products providing relief from stubborn price pressures.
• Data released by the commerce and industry ministry on Monday showed inflation, as measured by the wholesale price index (WPI), rose an annual 1.3%.
• The data showed prices of food articles rose 5.5% in March, higher than the 3.8% recorded in February.
• Experts said the RBI is likely to maintain a pause in its interest rate rising cycle by now.

# Iran

• Iran said on Monday, it has formally invited Saudi King Salman to Visit Tehran, following a reconciliation pact reached last month between the two sides.
• Saudi Arabia severed relations with Iran in 2016, after its embassy in Tehran and consulate in the North West city of Mashhad were attacked during protests over Riyadh’s execution of shitte cleric Nimr-al-Nimr.
• The two west Asian powerhouses had held several rounds of dialogue in Iraq and Oman before reaching the agreement to mend ties on March 10 in China.

# WTO

• A WTO panel said on Monday that India had violated global trading rules in a dispute with the EU, Japan and Taiwan over import duties on IT products.
• In 2019, EU challenged, India’s introduction of import duties of between 7.5% and 20% for a wide range of IT products.