Russia Hopes PM Narendra Modi Visit will Lead to Better Economic Ties

Russia Hopes PM Narendra Modi Visit will Lead to Better Economic Ties

Vladivostok (Russia): Russia expects the upcoming visit of Prime Minister Narendra Modi here will result in increased economic cooperation between the two countries, amid India's declaration that it will step up investment in this country.

Ahead of Modi’s visit to attend the Eastern Economic Forum (EEF) to be held here from September 4 to 6, India’s Minister of Trade and Commerce Piyush Goyal led a delegation, which included Uttar Pradesh Chief Minister Yogi Adityanath, Gujarat Chief Minister Vijay Rupani, Haryana Chief Minister Manohar Lal Khattar and Goa Chief Minister Pramod Sawant and representatives of over 130 companies.

The delegation held deliberations with the Russian counterpart, headed by Deputy Prime Minister and Presidential Envoy to the Far East Yuri Trutnev and including Minister for Development of the Far East and the Arctic Alexander Kozlov, heads of far eastern regions, representatives of federal executive authorities and more than 120 companies. Trutnev referred to the upcoming visit of Modi, who will be the Chief Guest at the EEF, and said, “I am sure that contacts between the leaders of our countries will improve the overall investment climate and convince businessmen that investments are safe.” Talking about the discussions between the delegations of the two countries, he said interest was evinced in cooperation in power, agriculture, timber, infrastructure, hi-tech and IT sectors.

Goyal said the delegation to the Far East was “the biggest we have ever sent to any country” and that “this reflects the importance we attach to Russian-Indian cooperation.”

He said the visit of the delegation was “indicative of India’s consistent interest in the Far East at the (central) governmental and regional levels. We attach major significance to development of trade and investment co-operation. We have a common goal of reaching USD 30 bn in our bilateral trade turnover. We also plan to increase India’s investments in Russia.” (IANS)

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