Financial Daily from THE HINDU group of publications
Saturday, Dec 04, 2004
Financial Daily from THE HINDU group of publications Saturday, Dec 04, 2004 |
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Foreign Relations Industry & Economy - Foreign Trade India, Russia identify banking, IT for future cooperation Our Bureau
The Russian President, Mr Vladimir V. Putin, calling on the Prime Minister, Dr Manmohan Singh, at Hyderabad House in the Capital on Friday. - Kamal Narang
New Delhi , Dec. 3 INDIA and Russia have identified information technology, banking and the energy sector as the areas that offer new scope for strengthening economic relations between the two countries. "Mutual investments in industries, cooperation in IT and banking are some areas that offer a new scope (of economic exchanges between the two countries)," a joint declaration by India and the Russian Federation has said. The joint declaration was signed on the first day of the three-day official visit to India by the Russian Prime Minister, Mr Vladimir Putin. The declaration also sought greater cooperation in the energy sector. "The sides also recognise the considerable scope for cooperation in the hydro-electric and thermal power sectors. Russia is a major exporter of oil and gas and India is emerging as a large consumer," the declaration said. It said that both sides would pool their resources to develop new oil and gas fields. "The sides affirm their desire to cooperate in development of new oil and gas fields and the mean of transportation in Russia, India and other countries," the declaration said. The two sides have also committed themselves to greater investment flow in the energy sector.
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