Putin :Russia, India to double trade in 3 Years

Russian President Vladimir Putin arrived in India on Monday on a visit that aims at strengthening military and trade ties. Upon his arrival, Putin expressed hope that by 2015 the two countries will double mutual trade turnover, which is expected to reach over $10 billion this year. Putin said that one of Russia’s foreign policy priorities is the further development of cooperation with India, particularly in trade and investments sector. “Our trade turnover overcame the consequences of the global [economic] crisis and in 2012 we are expecting a record figure of over $10 billion. Our next task is to reach the level of $20 billion by 2015,” Putin said. He added that in order to achieve this task it is necessary to promote formation of investment, technological and industrial alliances in the most dynamic and perspective sectors, particularly in energy sector, according to the Russian (RIA Novosti) News Agency. President Putin’s negotiations in India are expected to focus among other issues on the construction on the Kudankulam nuclear power plant (KNPP) and India’s participation in Russia’s Sakhalin-I project. During the visit, the Russian leader will hold talks with Indian Prime Minister Manmohan Singh and President Pranab Mukherjee and also meet with Indian National Congress Chair Sonia Gandhi and opposition leader Sushma Swaraj. This year Russia and India celebrate the 65th anniversary of the establishment of diplomatic relations.