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Excessive indecision of investors impedes Russian-Indian trade development

October 29, 2013, 8:01 UTC+3
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NEW DELHI, October 29 (Itar-Tass) - Trade turnover between Russia and India does not correspond to the existing potential largely due to indecision of the two countries’ businessmen, Russian Ambassador to India Alexander Kadakin stated on local television on Tuesday.

“We should immediately give attention to this problem,” the Russian diplomat said. “Speaking about simple trade, I have to admit that things are going not too well in this sphere. We have already reached the trade turnover level of 11.4 billion U.S. dollars, but for our countries this figure is ludicrously meagre. Even when we reach the level of 20 billion dollars a year, it will remain such.” According to Kadakin, both Indian and Russian investors are “excessively undecided.” “Indian businessmen do not want to invest in the Russian economy, and it is bad,” said Kadakin. “We have offered extremely attractive terms to Indian pharmaceutical companies, but they prefer just to supply medicines to Russia, and not to create production facilities in Russia, what we expect.”

Kadakin cited the construction of the Kudankulam NPP in the southern Indian state of Tamil Nadu as a positive example of bilateral cooperation.

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