By RIA Novosti
New Delhi : Russian and Indian companies plan to invest around $8 billion in joint projects, Russia’s economics minister told a news conference on Wednesday after a business forum between the countries.
A two-day forum involving hundreds of company representatives and several government officials from both countries concluded in the Indian capital on Wednesday.
“The cost of joint projects discussed at the forum reached around $8 billion,” Elvira Nabiullina said.
At the meeting, the second business forum held between Russia and India, government officials signed a joint declaration to set up a working group to increase trade and investment between the two countries from the current level of $5-6 billion to $10 billion by 2010.
The Russian minister said trade can be boosted by diversifying areas of Russian-Indian cooperation, with a focus on development and innovation.
A council with 10 heads of major companies from each country will also be set up for this purpose.
Alexander Zhukov, a Russian deputy prime minister, said New Delhi would host a Russian national exhibition as part of the Russian Year in India in November.
The third Russian-Indian trade and investment forum is planned to be held in Moscow.