India and Russian trade $20 billion by 2015.

Nksagar -Sagar Media Inc New Delhi Russian President Dmitry Medvedev from Monday to start an official three-day visit to India to discuss trade, economic, energy and cultural cooperation, as well as international issues.A number of agreements would be signed.These agreements would in areas of space, economic and defence sectors," External Affairs Ministry Spokesperson Vishnu Prakash told reporters in New Delhi. He however did not give details.A number of agreements are to be signed between two giant countries for co-operation following the Russian and the Indian leadership talks. Medvedev arrive in New Delhi on Monday evening.Dmitry Medvedev to meet with Foreign Minister Somanahalli Mallaiah Krishna, Prime Minister Manmohan Singh and his Indian counterpart Pratibha Patil.

Relations between Russia and India have blossomed in recent years, with India becoming one of the biggest importers of Russian military hardware.In 2009, Russian-Indian trade reached the $7.5 billion mark. It grew 20% in the first nine months of 2010, and the countries plan to raise the figure to $20 billion by 2015.
Russian Ambassador to India Alexander M Kadakin had said early this week that the two sides are expected to sign around 15 pacts including on the cutting edge Fifth Generation Fighter Aircraft (FGFA) and to build more nuclear reactors in India.
The External Affairs Ministry said the two sides will also look at ways to expand cooperation in the field of hydrocarbons.

On Tuesday, Medvedev will hold talks with Prime Minister Singh on a range of bilateral and regional matters, including situation in Afghanistan and Pakistan, apart from global issues."The two countries have a similar perspective on the terrorism issue.India and Russia are also the members of the G-20 and work closely for reforms in international financial system," Prakash said.Asked if the agreement on the FGFA was going to be signed during the visit, Prakash said, "That is a long term project of advance manufacturing and it will have a number of milestones in it and we don't know whether one or two of them will be achieved during the meeting here."

Under the deal for the FGFA, likely to be worth over USD 30 billion, India is planning to co-develop and build an advanced fighter aircraft which will be similar or more advanced than the American F/A-22 Raptor. The stealth fighter is currently being developed in Russia and the prototype flew for the first time earlier this year.

Asked to comment on the issues raised by the Russians on the issue of liability clause in the nuclear deal, the spokesperson said the two sides had signed a framework agreement for nuclear cooperation during Prime Minister Vladimir Putin's visit in March this year.

"We see the current conversation for Kudankulam 3 and 4 (in Tamil Nadu)and as part of the process. This is purely a technical discussion between both sides and includes whole range of things including cost and liability and we hope that we will reach a resolution to all these issues," he said.The biggest joint projects today are the construction of the Kudankulam nuclear power plant in southern India and the exploration of the Sakhalin-1 oil and gas field with the participation of India's ONGC state-run corporation.

On Wednesday, the Russian President will go to Agra and also to Mumbai where he will visit IIT, Powai and the Film City to have a feel of the Bollywood industry.

Indian Foreign Ministry spokesman Vishnu Prakash said Sunday his country's companies are ready to take part in the Russian privatization program for 2011-2013. The prospects will also be discussed during Medvedev's visit.


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