New Delhi, Jan 22
Days before Russian President Vladimir Putin comes here on a two-day
visit, India Monday called for quicker Russian visas for Indian
businessmen and stressed that Moscow enjoys the first mover
advantage in civil nuclear commerce after the NSG opens doors for
India.
New Delhi also underlined that despite strong strategic and
political ties between the two time-tested friends, bilateral trade
and business ties have remained abysmally low at $3 billion and this
issue will be the centrepiece of Putin's visit to India Thursday.
The two countries hope to more than triple bilateral trade to $10
billion by 2010.
"Visas for Indian businessmen continue to be a problem. We are
persuading the Russian side to simplify visa procedures, specially
for businessmen," India's ambassador to Russia Kanwal Sibal told a
small gathering of businessmen, diplomats and journalists here.
"They have unnecessarily complicated the visa process," he said. A
large Russian business delegation will be accompanying Putin, who
will be the chief guest at the Republic Day celebrations, to India.
A clutch of agreements on setting up a joint venture in the energy
sector, the purchase of a new generation MiG aircraft, the joint
production of a multi-role transport aircraft (MTA) and close
cooperation in civilian space sector, including joint launch of
satellites, and establishing a centre for technology transfer are
expected to be signed during Putin's visit.
"The central theme of Putin's visit will be intensification of trade
and commerce. Our political relations are excellent Our defence ties
are equally prolific, forward-looking and expanding. But trade and
economic relations are way below the potential," Sibal said.
"Our strategic and political relationship in the long run will be
weakened if the economic pillar of relationship is not
strengthened," he said.
Outlining a picture of a resurgent Russia with a booming oil
industry and nearly a trillion dollar economy with $300 billion in
foreign reserves, Sibal asked Indian businessmen to look at
opportunities in Russia in diverse sectors like energy, information
technology, pharmaceuticals and diamonds with "fresh eyes." He also
urged Russian business to invest in infrastructure projects in
India.
"Indian businessmen should look at Russia with fresh eyes and be
willing to take few more risks. The potential is huge," Sibal said.
Alluding to the ambitious plans of the Tata group to manufacture
light vehicles and buses in Moscow and the Tata Consultancy
Services' plan to open an office in Russia this year, he hoped the
success of these ventures would encourage more Indian businessmen to
invest in Russia.
"In its entire history, Russia is strongest economically now.
Imagine the purchasing power of 150 million people in a surging
economy," J. Bhagwati, joint secretary (Eurasia division) in the
external affairs ministry said.
Communication problems and relative ignorance of new changes taking
place in each other's country were also identified as stumbling
blocks in realising full potential of bilateral trade between the
two countries.
Different ways to inject new vitality into the sluggish trade ties
will be discussed at the meeting of the newly set up Indo-Russian
trade and investment forum next month here. The forum will discuss a
report by a joint study group on accelerating business ties that was
set up after talks between Prime Minister Manmohan Singh and Putin
on the sidelines of the G-8 summit in St. Petersburg last year.
Unveiling immense opportunities for cooperation in the energy
sector, especially in the area of nuclear energy, the Indian envoy
said that given the history of working together in this sector
Russia will be "the first to walk in" after the Nuclear Suppliers
Group opens doors for India.
Moscow will help India build four more units of Kudankulam nuclear
plant in Tamil Nadu after the NSG amends its guidelines, he added.
Russia agreed to help India in building two 1,000 MW units of
Kudankualm plant before it became a member of the NSG in 1988.
Accelerating bilateral cooperation in hydrocarbon sector will get
high priority. India has invested over $2 billion in Sakhalin-I oil
block in Russia where ONGC Videsh, the overseas arm of the national
oil major, holds a 20 percent stake. India received the first
shipment of oil from the Sakhalin-I in December. The two countries
are also planning to develop oil reserves in the Bay of Bengal.
In space sector, the two countries are expected to sign an agreement
on GLONASS - a global satellite-based navigation system touted as an
alternative to the GPS system. They will discuss the nitty-gritty of
jointly launching satellites.
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