India, Russia to boost bilateral trade to $8-10 bn
India and Russia hope to boost bilateral trade figures between the two countries from the current $3 billion to around $8-10 billion within the next four years.
By TNN |
KOLKATA: India and Russia hope to boost bilateral trade figures between the two countries from the current $3 billion to around $8-10 billion within the next four years.
The two countries are looking at greater co-operation in the fields of high technology including IT, energy, oil-refining and bio-technology among others.
The trade between India and Russia is far below its potential given that at present, India accounts for a mere 1% of Russia's external trade, said Mr Vladimir Lazarev, consul general of the Russian Federation in Kolkata, addressing mediapersons at a meet at the Bengal National Chamber of Commerce and Industry.
Cooperation in diamond trade between Russia and India was high on the agenda given the fact that Russia is one of the world's largest producers of rough diamonds. Mr Lazarev also said that Russia was keen to develop a strong energy partnership with India.
Mr Lazarev added that India and Russia were negotiating an agreement for free movement of Indian businessmen. However, a problem was posed by another rider of the agreement which stipulated that any illegal Indian immigrant would be send back from Russia at the Indian government's cost.
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Tourism was another promising area of co-operation between the two countries. Several private airline companies are interested in starting operations from Kolkata, said Mr Lazarev. Download
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