Comprehensive Plan To Increase Russian-Indian Trade

The trade volume between Russia and India, which currently totals $1.5 billion a year, will grow to $5 billion by 2005. This is the goal set by the Confederation of Indian Industry (CII). A comprehensive plan of increasing bilateral trade has been drawn up. According to Mr. S. Sen, the CII deputy director general, CII has singled out the promising areas of bilateral cooperation. The two countries intend to establish joint ventures in the areas of information technology, telecommunications, energy, pharmaceuticals, biotechnology, management training, food processing, aircraft manufacturing, and jewellery production. Mr. S. Sen stressed that not only entrepreneurs, but also the Indian government "have been sending signals speaking of the need for further strengthening of bilateral economic ties." Mr. S. Sen believes that the attitude to Russia in the world is rapidly changing. He said that more and more countries were becoming interested in investing into the Russian economy. Therefore, "India should not miss its chance, especially given that historically the two countries have had strong partnership relations."