We have achieved much progress and created preconditions for a breakthrough in many cooperation fields, Mr. Putin said speaking at the Jawaharlal Nehru memorial foundation.
The Russian leader spoke about the progress in Russian-Indian trade. However, none of the sides is satisfied with the fact that bilateral trade accounts for only 1.5% of the foreign trade turnover of each partner.
"The situation is changing for the better," the President stressed.
In this connection, he mentioned a number of large-scale long-term initiatives, which have been recently launched. Among them are the Sakhalin-1 oil production project in Russia and the construction of the Kudankulam nuclear power plant in India.
"I believe that the future of Russian-Indian economic ties lies in the spheres of investment cooperation and implementation of major strategic projects," Vladimir Putin emphasized.
According to him, Russian companies are ready to participate in Indian programs on hydrocarbon survey, production and transportation, as well as construction and modernization of electric power plants, provision of railroad security, etc.
The Russian President focused on the North-South international transport corridor project implemented by Russia, India and Iran.
In his words, this is a strategic project. The corridor "should have serious influence on transportation between Europe, Southern Asia and the Gulf countries," he noted.
"This route may become a landmark of economic and integration architecture of the vast Eurasian region," Vladimir Putin said.
"Russia is ready to participate in other major regional infrastructure projects, such as the construction of pipelines, highways and railways," he added.
He is convinced that "the implementation of these projects will boost the bilateral economic rapprochement, consolidation of their political mutual understanding, and cooperation in many other fields."
