India, Russia to achieve USD 20 billion trade target by 2015
India and Russia have agreed to accelerate their efforts to achieve the 20 billion US Dollars trade target by 2015. The bilateral trade between the countries stood at 9 billion U S Dollars in 2011. Addressing a joint press conference with the Russian Deputy Prime Minister Dmitry Rogozin, External Affairs Minister S M Krishna said the trade figures for the first quarter of this year are encouraging but more efforts are need to be done. He said, during the Inter Governmental Commission meet, the focus was on economic aspects of relationship between the two contries.
Mr Krishna said, besides discussion on strategic sectors, both the sides also reviewed progress on some initiatives undertaken after Annual Summit in 2011 at Moscow. These include the joint drive to harness the benefits of modernisation and industrial cooperation by pooling in the vast human and scientific resources of the two countries. The External Affairs Minister said the first meeting of Joint Working Group set up in this connection will take place shortly.
Mr Dmitry offered Russian expertise in the field of energy, particularly atomic energy. He said India is experiencing tremendous industrial growth and energy is required for it. He said Moscow can provide safe and secure Nuclear Power Station. Mr Dmitry said, both the countries is now venturing in to the joint production instead of bilateral trade.
The Russian Deputy Prime Minister said that both the sides can cooperate in the field of knowledge, air and space technologies. Both countries can produce combat air crafts, multitask interceptors and helicoptors. The Russian leader asserted for more business to business contacts. He also advocated for easy VISA regime to enhance trade between the two countries.
Meanwhile, the Russian Deputy Prime Minister was given a presentation about the missile's capabilities and recent achievements along with live demonstration of the mobile launcher. The two sides had formed the joint venture to produce the supersonic cruise missiles in 1998 and since then, all three wings of the Indian armed forces have ordered Brahmos.
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