<p>“Let us work together for a renewed thrust on bilateral trade and investment. The target of $20 billion trade by 2015 is achievable, provided all stakeholders put in concerted high efforts,” Commerce and Industry Minister Anand Sharma said at the 4th India-Russia Forum on Trade and Investments here. <br /><br />Sharma emphasised the need to expand trade basket to include value added items in areas of applied technologies, information technology, telecommunications, automobile components, gems and jewellery, and energy. <br /><br />“While the political responsibility for expanding ties with other countries is the primary task of governments, business to business relations have become a critical element in the overall architecture of interaction between countries in this age of increasingly deregulated economies, private sector dynamism and globalisation,” Sharma said. <br /><br />The minister asked businesspersons of both countries to explore new investment and trade opportunities, saying the current level of trade and investment between the two countries was much below potential. <br /><br />Addressing a plenary titled 'Prospects of India-Russia Trade and Investment Relations Development', Sharma said: “Both countries should make available to each other the investment regulations and ways of doing business. At the same time, I would urge industry associations to increase their presence in each other’s countries.”<br /><br />The trade forum is organised on the eve of Russian President Dmitry Medvedev's three-day official visit to India, beginning Tuesday. <br /><br />Russia's Deputy Prime Minister Sergei Ivanov and Minister of Economic Development and Trade Elvira Nabiullina also addressed the forum.</p>
<p>“Let us work together for a renewed thrust on bilateral trade and investment. The target of $20 billion trade by 2015 is achievable, provided all stakeholders put in concerted high efforts,” Commerce and Industry Minister Anand Sharma said at the 4th India-Russia Forum on Trade and Investments here. <br /><br />Sharma emphasised the need to expand trade basket to include value added items in areas of applied technologies, information technology, telecommunications, automobile components, gems and jewellery, and energy. <br /><br />“While the political responsibility for expanding ties with other countries is the primary task of governments, business to business relations have become a critical element in the overall architecture of interaction between countries in this age of increasingly deregulated economies, private sector dynamism and globalisation,” Sharma said. <br /><br />The minister asked businesspersons of both countries to explore new investment and trade opportunities, saying the current level of trade and investment between the two countries was much below potential. <br /><br />Addressing a plenary titled 'Prospects of India-Russia Trade and Investment Relations Development', Sharma said: “Both countries should make available to each other the investment regulations and ways of doing business. At the same time, I would urge industry associations to increase their presence in each other’s countries.”<br /><br />The trade forum is organised on the eve of Russian President Dmitry Medvedev's three-day official visit to India, beginning Tuesday. <br /><br />Russia's Deputy Prime Minister Sergei Ivanov and Minister of Economic Development and Trade Elvira Nabiullina also addressed the forum.</p>