Indo-Russia trade to touch $10 bln by 2010

New Delhi, May 1 (UNI) Driven by Public-Private-Partnership (PPP) module, the bilateral trade between Russia and India is expected to touch 10 billion dollar by 2010 from the present 3.1 billion dollar.

''Both the countries are drawing up strategies to enhance the bilateral trade to 10 billion dollars by 2010. The key factor of success is the public-private-partnership on both sides,'' Russian Ambassador to India Vyacheslav I Trubnikov said here today.

Greater co-operation between Russian and Indian, small and medium enterprises (SMEs) will also facilitate business-to-business contacts, he said.

Underscoring the need for joint production, possible mutual investments and trade in high tech manufactured goods, the Russian Ambassador said such directional push would create favourable conditions for business-to-business contacts.

''The economic co-operation between the two countries can be taken to the level that existed during the Soviet Union,'' the Russian Ambassador said.

He expressed a few sectors like space research, power, metallurgy, shipbuilding, etc that should get due importance for engaging the large-scale enterprises in both the countries.

Mr Trubnikov observed that lack of information about the business opportunities in both the countries was a major deterrent in revamping the bilateral trade.

In this regard, he mentioned that Russia is setting up a dedicated international chamber to build connectivity with countries like India in a more meaningful manner.

UNI