On Friday, October 5, Prime Minister Narendra Modi said that the relations between two countries have grown because of the efforts of business on both sides and asked Russia to open a dedicated defence corridor in India.
PM Modi was speaking at the first ever Indo-Russia business summit that was attended by Russian President Vladimir Putin as he is on India visit for the 19th India-Russia annual summit.
PM Modi asked Russia to open a dedicated defence industrial park in India, as Russia is the biggest arms supplier to India. He said, “We want Russia to open a dedicated defence industrial park”.
PM Modi said that India-Russia relations strengthened under the leadership of President Putin and business between two countries play an important role in the growing relations. He said that business between two countries grew by 20% in last year.
Here is my speech at the business summit with President Putin. https://t.co/VCS5uDyUF3
— Narendra Modi (@narendramodi) October 5, 2018
PM Modi invited Russian businessmen to invest in India as India has huge scope especially in the field of infrastructure development and renewable energy, and some big projects are going on like Sagarmala and metro projects that Russian businessmen can take account of.
Modi said, “Under President Putin’s leadership, India – Russia relations have reached new heights. Our ‘special and privileged strategic partnership’ show our mutual interests”.
He said, “Our relations have grown even stronger due to the efforts of businesses on both sides. In the past two years alone, the trade between the two nations has increased a lot and in particular grown by 20% in 2017-18. India considers Russia its most important partner in its economic growth”.
He added, “There are many opportunities in India that Russian businesses can take account of, like the Sagarmala project, metro projects, and others, especially in infrastructure, pharmaceuticals, new and renewable energy and nuclear energy”.