India –Russia strategic partnership booms - agreed to bolster trade and economic cooperation with the focus on developing energy sector
Kiran Chaube
Oct. 27, 2005

India and Russia agreed to bolster the startegic collaboration between the two countries.

According to media reports, Giving a new dimension to their strategic partnership, India and Russia today agreed to bolster trade and economic cooperation with the focus on developing energy sector, including nuclear, diamond trading and joint ventures in high technologies.

India will also go beyond a large investment in Sakhalin-1 oil field, visiting External Affairs Minister K Natwar Singh announced here after the 11th meeting of the Indo-Russian Inter-Governmental Commission.

"India is technically equipped and financially capable and willing to jointly work with Russia to make our energy cooperation an important and mutually beneficial dimension of our strategic partnership," the Minister said, adding that it has decided to invest more in Russia's oil and gas sectors.

He said that political decisions have been made and specifics will be worked out by the Indo-Russian summit in early December when Prime Minister Manmohan Singh is scheduled to visit Moscow.

"Two economies are consistently growing, offering new opportunities on both sides," he said.

The Minister, who arrived here yesterday on a four-day visit, said that such areas including Information Technology, bio-technology, commercialisation of Russian or jointly developed technologies and some frontier areas of science and technology deserve greater substantive joint action.

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