Russian
firms taking renewed interest in India
St.
Petersburg, June 18 (IANS)
Russian companies are showing renewed interest in doing business
with India following the visit of President Vladimir Putin
to the country in December last year, a Russian minister said
on Wednesday.
Russia's
Deputy Minister of Economic Development Aleksander Tsybulskiy
stressed this in his speech at a business roundtable titled
"Russia-India: Mutual Investment Opportunities"
during the St. Petersburg International Economic Forum (SPIEF).
The
Conefederation of Indian Industry (CII) has organised a CEOs'
delegation to SPIEF, chamber president Sumit Mazumder leading
the Indian businesses.
"Indian
companies could look at Russia as a production base and Russian
companies in turn could take advantage of India's R&D
prowess," Mazumder said at the roundtable.
Leading
Indian corporates such as L&T, Exim Bank, Sun Group and
Essar as well as Russian corporates Glonass, Sistema and United
Aircraft Corporation highlighted their experience of working
in each other's countries.
Russian
officials are in talks with their Indian counterparts to help
the country set up high-speed railways projects, a top railway
official said here.
Vladimir
Yakunin, president of Russian Railways, said they were keen
to tie up with Indian Railways for the planned high-speed
rail links, as the country has expertise in this area.
Talking
to journalists on the sidelines of the forum, Yakunin said
that Russia and India had a relationship in technological
matters, both defence and civilian, and this is likely to
continue in the future.
Yakunin
said earlier he himself held discussion at top level with
Indian politicians and officials on improving the signalling
and safety infrastructure in India, so that the accidents
happening on the Indian Railways network could be avoided.
Commerce
Minister Nirmala Sitharaman is leading the Indian delegation
to the SPIEF 2015, being held between June 18-20.
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