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Russia Should Change Methodology of Cooperation With India: Moscow Official

According to Head of Moscow's Department for Foreign Economic and International Relations, Russia is interested in seeking new opportunities of investment in India.

NEW DELHI, November 5 (RIA Novosti), Bijendra Singh – Russia should change its approach in economic cooperation with India, Head of Moscow's Department for Foreign Economic and International Relations Sergei Cheremin told RIA Novosti Wednesday at India-Russia Forum on Trade and Investment.

"For many years, Russia has been [India's] strategic partner in defense sector and I hope that it will continue for the next decade. But we have to change the methodology of cooperation. We have to appreciate the position of India to localize the production in the country," Cheremin said.

He added that Russia should not only concentrate on its own technological imports to India, but to look closely at its Asian partner's own defense industry products.

Cheremin also noted that Russia is interested in seeking new opportunities of investment in India, including in "ambitious projects like Delhi-Mumbai [Industrial] Corridor" and pay attention to partnership in infrastructure projects.

The Moscow official concluded by expressing his high appreciation of Indian government efforts on improving the business climate in the country.

Eighth India-Russia Forum on Trade and Investment, held in the Indian capital, involved over 100 big Russian companies. Key speakers included Russia's Deputy Prime Minister Dmitry Rogozin and India's Minister for Commerce and Industry Nirmala Seetharaman.

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