Alexander Livshits for the Creation of a Business Cooperation Council to Develop Russo-Indian Economic Ties

The establishment of a business cooperation council in Russia similar to that in India will facilitate economic cooperation between the two countries. The idea was initiated on Wednesday by Alexander Livshits, deputy Director General of OAO Russkii Aluminii at the round table with Russian and Indian industrialists.

He heads the Russian delegation that is taking part in the international industrial and technical exposition in Delhi.

Livshits said that a council will facilitate the solution of the problems that hinder active business cooperation. He went on to say that information on the countries' legislation and the systems of state regulation will be more available. A council will also help lobbying the interests of Russian and Indian industrialists.

Viktor Kudryashov, the head of the Russian trade representative office in Indian, said, in his turn, that Indian and Russia have common interests in political, trade-economic and military-technical areas which is favourable for the development of cooperation. The Russian trade representative expects Indian businessmen to make huge investments in the North-South transport corridor which will reduce export and import costs by 20-30%.

The opinion is shared by Nand Khemka, the representative of the Sun trade-industrial group, well known both in Russia and India. He pointed to the stabilisation of the economic situation in Russia in the recent years and called on Indian businessmen to build long-term relations with Russian partners.

Srikumar Nair, the deputy director of the Indian industry confederation, in his interview with RIA Novosti said that over 30 major Indian companies had been interested in the round table. They are hoping to build firm business relations with Russian partners.