Trade with India should touch $80 bn: Putin | india | Hindustan Times
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Trade with India should touch $80 bn: Putin

india Updated: Jan 24, 2007 13:18 IST

Seeking expansion of business with India in a variety of new areas including hi-tech, tele-communication and ship building, Russian President Vladimir Putin says bilateral trade should be up to $ 80 billion by 2015 but feels it is for corporate houses to address issues in the hydrocarbon sector.

"..... Somewhere by 2010, we can achieve the level of USD 10 billion worth of turnover and to increase it by 3.4 times and to double it by 2015.This is quite a realistic task to be achieved," he said in an interview.

Putin, who is arriving in New Delhi on Thursday on a two-day visit accompanied by a strong business delegation, said the two governments would achieve the results by putting efforts from both the ends by cutting the red tape and providing initiative to the private sector.

On the crucial issue of India's keenness to involve itself in the promising hydrocarbon project Sakhalin III, he appeared to be non-committal.

".... Now they (India) are talking about the possibility of the scope of production with Japanese partners and partners from other countries. Once again, the scope of possibilities and projects is very rich. Therefore, it is the corporate business which needs to address those issues.And the state is there to provide assistance," he said.