India and Russia are mulling new hi-tech projects, including in the fields of nuclear energy and nano-technology, in an effort to boost their bilateral trade to USD 20 billion in 2015, nearly tripling the current volume of USD 7 billion.
Opening the 15th session of India-Russia Inter-governmental Commission on trade, economic, scientific, technological and cultural cooperation in Moscow Russian Vice Premier Sergei Sobyanin declared the two nations with trade volume of around USD 7 billion are confidently moving towards achieving the previously set target of USD 10 billion in 2010.
From the Indian side, the commission is co-chaired by External Affairs Minister SM Krishna, who arrived in Moscow late Tuesday night on a two-day maiden Russia visit, during which he is also scheduled to meet Foreign Minister Sergei Lavrov and call on President Dmitry Medvedev.
The joint protocol of the 15th session signed by Krishna and Sobyanin notes the 'positive trend' in bilateral trade even during the times of current crisis and reflects the readiness of India and Russia to take steps to further boost it up to USD 20 billion mark in 2015.
At the session, the two countries agreed to sign accords on construction of unit 3 and 4 at the Kudankulam nuclear power plant in Tamil Nadu and other sites in India.
An agreement to this effect is expected to be signed during Prime Minister Manmohan Singh's visit to Russia in December.