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India, Russia discuss economic ties

IANS | New Delhi |

External Affairs Minister Sushma Swaraj and visiting Russian Deputy Prime Minister Yuri Trutnev on Friday discussed a wide range of issues pertaining to bilateral economic relations, official sources here said.

Trutnev, accompanied by leaders from Russia's far east and a business delegation, is on a visit to India from March 15-18.

The two leaders "agreed that the privileged strategic partnership between India and Russia, based on longstanding and time-tested ties, is very deep and extends to all spheres of mutual interest".

"Sushma Swaraj specifically stressed the growing mutual beneficial ties between India and Russia in energy sector, particularly in the Russian far east," said an official statement.

"The minister emphasised on cooperation in maritime and agricultural sector, and on institutional linkages between the countries in these areas," it added.

Sushma Swaraj also thanked Trutnev for inviting the Indian participation in the Third Eastern Economic Forum in Vladivostok in September. 

The two leaders agreed that interaction between various ministries of India and Russia will further boost economic cooperation.

Russia is India's foremost defence and strategic partner and largest exporter of defence equipment and nuclear technology. 

Recently, Russian oil major Rosneft agreed to invest $10.9 billion in Indian hydrocarbon sector and Indian oil companies like Indian Oil Corporation, Oil India and Oil and Natural Gas Commission had acquired stakes in Russian Vankor and Tass-Yuryakh oil fields.