India, Russia to add impetus to economic ties

INDIA-RUSSIA

Vinay Shukla

Moscow, Sep 29 (PTI) India and Russia, two of the famous
four 'BRIC' economies, Tuesday vowed to add muscle to their
bilateral relations by forging partnership in nuclear energy,
bio-technology, nano-technology and core infrastructure.

"We should convert the challenges of the global economic
crisis into opportunities by taking a proactive approach,"
Commerce and Industry Minister Anand Sharma said here at the
third meeting of the India-Russia Forum on trade and
investment, attended by over 350 industry leaders from the two
countries.

Russia's Deputy Prime Minister Alexander Zhukov asked the
business heads to leverage from each other's strength.

Russia's vast mineral energy resources, cutting-edge
technology and India's highly developed IT sector and the
auto component industry can push the bilateral trade to USD
9-billion mark in the near future, he said.
The two nations, at the core of the 'BRIC' - Brazil,
Russia,India,China'-have trade totalling USD seven billion.
Business leaders, including Harshpati Singhania and K K
Modi, under the aegis of FICCI, CII and Assocham, attended the
forum meeting inaugurated by Zhukov.
In its much-debated 2003 report, Goldman Sach's had
projected that in less than 40 years, the four BRIC economies
together could be larger than the G6 industrialised countries.
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