HYDERABAD: Vyacheslav I Trubnikov, Ambassador Extraordinaire and Plenipotentiary for the Russian Government, today felt the need to boost business and trade relations between the two countries. Statistically the trade between the two countries amounted to $ 7 billion for Russia’s investment in the country and upto $ 800 million for India’s investment in Russia.
Speaking at a meeting organised by the Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) here, Trubnikov said the two countries could move to newer areas and felt that businees with India was lucrative because of the diversified trade.
He pointed out that atomic energy was most prospective and could become the core sphere of interaction between the two countries.
Citing the example of the Kudankulam Nuclear Power Plant where a Russian company Atomstroyexport was providing technical assistance, he said four more nuclear power plants were in the pipeline, including one in AP.
He also cited the example of Russian Company Gazprom in the Krishna- Godavari Natural Gas Basin and its contribution in building pipelines for the project.
He felt that the bilateral trade between the two countries could touch $ 10 billion by 2010 and would further grow drastically after the development of the North-South corridor which would make trade routes simpler and make transportation cheaper.
Other businneses where Russian companies were keen to enter the Indian market were automobile sector, roads and infrastructure (A Russian company Transstroy had helped build the Hyderabad ring road), banking, health and several others.
Consul-General of the Russian Consulate in Chennai Vladislav V Antonyuk announced the opening of a Consulate in Hyderabad at Basheerbagh and another at Trivandrum.