Upping trade volume on India-Russia talks agenda
The low trade volumes between the countries remain a worry as India and Russia enter the second decade of strategic dialogue.delhi Updated: Dec 20, 2010 00:48 IST
The low trade volumes between the countries remain a worry as India and Russia enter the second decade of strategic dialogue.
The issue of terrorism, and the situation in Afghanistan and Pakistan will also figure in discussions when Prime Minister Manmohan Singh meets with Russian President Dmitry Medvedev on Tuesday. The 11th annual India-Russia summit will seal a host of big-ticket deals.
Though the annual trade reached $10 billion this year —and plans are afoot to take it further up to $20 billion — both sides accept the figure is below potential.
With plans for cooperation in hydrocarbons, India is seeking a greater pie for its IT and pharmaceutical products in Russia, besides the $32-billion privatisation programme of Russia.
"Moving over the G-to-G (government to government) contacts, we are now seeing more B-to-B (business to business) interactions", said Vishnu Prakash, spokesperson of the ministry of external affairs.
Over 100 Russian business leaders are expected to hold talks with their Indian counterparts in New Delhi on Monday as part of the India-Russia CEOs' Council.