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India-Russia trade target to achieve $20 billion by 2015

In a recent meeting with the Russian Deputy Prime Minister at Hyderabad House in New Delhi the Indian Foreign Minister Mr. S. M. Krishna stressed the need to make maximum effort to achieve a $20 billion trade target by the year 2015.
Indian and Russia have jointly agreed to study a comprehensive economic cooperation agreement with Belarus, Kazakhstan and the Russia Customs Union, the Indian minister further added.
The Russian Deputy Prime Minister Mr. Dmitry Rogozin expressed his interest in joint production of Russia-India passenger and cargo aircraft. The other potential area for cooperation is the helicopter industry, he said. He stressed that Russia and India are keen on joint production and research and development of projects. Space is the other threshold area of cooperation, he said. Mr. Rogozin expressed that Russia wants to move from basic trade to joint development projects with India.

The Deputy PM of Russia will also meet the Indian Commerce and Industry Minister Mr. Anand Sharma to discuss the issues related to overall investments by Russia in other sectors. Mr. Rogozin will also meet the Indian Defence Minister Mr. A. K. Antony.

This visit is considered very crucial in the economic circle as this is ahead of the Russian President, Mr. Vladimir Putin’s visit, scheduled for later part of year 2012 for the 13th edition of the India-Russia annual summit.