India and Russia committed to boost bilateral cooperation says Anand Sharma

New Delhi, Feb 16 (ANI): Union Minister of Commerce and Industry Anand Sharma today expressed confidence that the bilateral cooperation between India and Russia in trade and other areas will continue to register healthy growth.

During his meeting with Sergei Sobyanin, Deputy Prime Minister of Russia and Victor Khrihtenko, Minister of Industry and Trade Russia, Anand Sharma referred to the strategic relationship that exists between the two countries.

The Russian side evinced keen interest in seeking cooperation from the Indian pharma companies.

Sharma informed that Indian companies have strength in the pharma sector especially in the generic area.

"Our pharma sector companies are already engaged with Russia and more and more companies are looking forward to having joint ventures with their Russian counterparts", Sharma said.

He further referred to the ongoing cooperation in the fields of space, metallurgy and fertilizers and hoped that the enhanced economic engagements in these areas would further boost bilateral cooperation between the two countries.

The bilateral trade between India and Russia during 2009-2010 (Apr-Dec) was of the order of 2188.12 million dollars.

The major items of export by India are drugs, pharmaceuticals and fine chemicals, tea, transport equipments, machinery and instruments, coffee, cotton yarn fabrics, made-ups, manufactures of metals.

The major items of import by India are petroleum, crude and products, fertilizers (manufactured), iron and steel, non-ferrous metals, silver, transport equipments, coal, coke, briquettes, synthetic and reclaimed rubber newsprint. (ANI)