NEW DELHI, 14 February 2008 — Russian Prime Minister Victor Zubkov said yesterday Indo-Russian strategic partnership was set to reach new heights as he spoke at the opening of a Russian information center here.
“We should bear in mind that the people of the two countries have a very keen interest in each other. We expect that the center will become an important symbol of Russia’s presence in India,” the Russian prime minister said.
India and Russia will soon shortlist countries to which the BrahMos missile system can be exported.
Indian Minister of State for Defense Production Rao Inderjit Singh told a defense journal, “Indo-Russian joint venture, BrahMos, has completed development of the missile systems required for the navy and army and is currently producing the systems using Indian and Russian industries.”
The other evidence of Indo-Russian ties growing stronger and moving to a new level was the opening of a branch of Vneshtorgbank, Russia’s second largest bank, for the first time here.
In addition, the second session of the India-Russia Forum on Trade and Investment was co-chaired by Indian Minister of Commerce and Industry Kamal Nath and the Russian Minister of Economic Development and Trade Elvira S. Nabiulliana. A protocol was signed underlying the two countries’ resolve to cooperate in several spheres of mutual interest.
At the conclusion of the meeting Nath announced the formation of a India-Russia CEOs council, which would be co-chaired by Reliance Industries chairman Mukesh Ambani.
Ten CEOs each from India and Russia would be on the council to enhance bilateral trade and investment. The setting of this council should increase “level of economic engagement between the two countries,” Nath said. “CEOs’ council will be instrumental in increasing trade between the two countries,” Nabiulliana said.
