Russia looking at Investments in India

The Russian Federation is very keen on making investment in India in various sectors in those cases where the proposals are lucrative and acceptable to Russia since a huge amount is lying in the Indo-Rouble trade as well as other accruals which needs to be invested in India, said Mr. Alexander S. Karuykin, Counsellor (Finance), Embassy of the Russian Federation in New Delhi at an interactive meeting organized by MVIRDC World Trade Centre (WTC) Mumbai, All India Association of Industries (AIAI) and Russia-India Trade House Mumbai (RITHM).

 Mr. Alexander S. Karuykin said they have faced some difficulties in investment in Odisha with respect to titanium project being set up in joint cooperation between India and Russia and also in regard to Sistema Telecom Project and Russia would not like to repeat such experiences. He further added that Russia and India are going to celebrate 65 years of diplomatic relations this year and would like to see more economic cooperation by way of investment, joint ventures, technology transfer and bilateral trade.

 Mr. Vijay Kalantri, Vice Chairman, World Trade Centre Mumbai and President, All India Association of Industries said that India is keen on doing business with the Russian Federation as we feel that Russia is a true friend of India and a strategic partner in diverse areas of science  and technology, defence, nuclear and other key sectors. We always remember the support of the Russian Federation in building Steel and Defence sectors of India. Russia is the largest supplier of military equipments as well, Mr. Kalantri added. We feel trade with Russia will cross US$ 20 billion by 2015 if there is continuous effort on both sides, he said.                                                                  

November 9, 2012