labels: Economy - general
Russia suggests PPP model for boosting economic ties with India news
09 April 2008

Mumbai: Russia is banking on the public-private partnership (PPP) model for increasing engagement with India and for forging commercial cooperation with the country in sectors like oil and gas, power generation and mining.

"India and Russia have mutual complementarity and ample opportunities for greater collaboration. The key factor to enhancing bilateral cooperation is public-private partnership on both sides," Russia's ambassador to India Vyacheslav Trubnikov said at a function organised by the India-Russia Chamber of Commerce.

Bilateral trade between India and Russia grew 40 per cent last year to $5 dollars and the two countries have set a target of $10 billion by 2010.

Russia, Trubnikov said, was keen on forging ties with India in a host of areas, including energy, transport, IT, infrastructure, biotechnology, automobile, space exploration and civil aviation.

He said the contours of the bilateral relations have changed in the last decade.

"Previously the leadership of both countries concentrated on political cooperation and military and technical interaction. However, today most endeavours and initiatives are aimed at fostering mutually beneficial trade and economic collaboration," he said.


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Russia suggests PPP model for boosting economic ties with India