Financial Daily from THE HINDU group of publications
Friday, Feb 17, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 17, 2006 |
|
|
|
|
|
|
|
Industry & Economy
-
Foreign Trade Russian envoy calls for greater economic ties Our Bureau
Mr V.I. Trubnikov, Russian Ambassador. — C.V. Subrahmanya
Visakhapatnam , Feb. 16 THERE is room for greater economic co-operation between India and Russia and the latter is also keen on playing its part in the expansion and modernisation of the steel plants in the country such as the one here, according to Mr Vyacheslav I. Trubnikov, Ambassador Extraordinary and Plenipotentiary of the Russian Federation. The ambassador, who was here to witness the President's review of the naval fleet earlier this week, said in an interview that the two countries could co-operate in many spheres such as IT, biotechnology and nanotechnology. "Now India is a different country from what it was about 15 years ago. Also, today's Russia is not the USSR. Both the countries have to understand each other and exchange relations, particularly in the area of trade and commerce," he said. The volume of Russia's trade with India was only $2 billion, while the figure was as high as $18 billion between India and China. Mr Trubnikov, who left for Raipur and Bhilai on Wednesday to talk to the local leadership on modernisations of the plants, said that he would like to compare the progress of Bhilai steel plant with that of Visakhapatnam Steel Plant (VSP). He added that he would like to see continuing Indo-Russian co-operation in the area of metallurgy and heavy industry. He recalled how some of the Indian steel plants such as Bhilai and the VSP were set up with the technical assistance of the erstwhile USSR. "I have visited Visakhapatnam steel plant and learnt that the capacity is being expanded. The plant was built with our assistance. We would like to be a part and parcel of the expansion process. We may bid for the construction of the third blast furnace, coke oven, and convertor." On the rupee debt, he said that it was around $3 billion, to be cleared by the year 2037. But if Russia could invest $1 billion immediately, in the steel and heavy industry, the rest could be settled later by India through the traditional exports of commodities such as coffee, tea, and tobacco, he added
More Stories on : Foreign Trade | Foreign Relations
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|