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"We hope this will lead to new beginnings which will enable Russian investors to utilize the opportunities that are opening up in India through Prime Minister's Make in India initiative and a variety of opportunities that have arisen. For example, Russia is amongst the largest producers of diamond. India is amongst the largest importers of diamond because we import them and then export polished diamonds," Ministry of External Affairs spokesman Syed Akbaruddin said ahead of the 15th annual summit interaction between President Putin and Prime Minister Modi.
"It is our intention during the discussions to try and see if a beginning can be made in terms of direct import of Russian diamonds to India. Should we succeed in this, this will add sparkle to India- Russia bilateral ties. And, as you know, diamonds are forever and the sparkle will last forever," he added.
Akbaruddin said the two countries have been time-tested friends and added that there existed enormous opportunities in furthering trade ties between the two nations.
"India and Russia have a fraternal relationship and have been time- tested friends. Therefore, when President Putin meets our leadership you can expect that he will be given a warm welcome."
"India and Russia's bilateral trade is approximately ten billion. This is of course way below its potential. There exists enormous opportunities in the changes that are taking place in India as well as in Russia for our businessmen to engage each other. As part of discussions today, we have a group of CEOs from Russia, as well as from India, to interact among themselves and with our leadership," he said.
The MEA spokesman added that the outcome from the talks would be fruitful and would be centered around defence, nuclear power plants and people to people ties.
"On the table are a variety of issues, in keeping with our multi- faceted relations. The agenda is expansive; it deals with energy ties that are in terms of hydro-carbons, where there is enormous potential; nuclear energy co-operation where India and Russia are working to build nuclear power plants in India; defence- which is a major factor in our bilateral ties and commercial and people to people ties which are growing very rapidly. So, we expect a full agenda and a fruitful outcome," he pointed out.
Russian President Vladimir Putin arrived in New Delhi late last night on a two-day visit to India to attend the 15th India-Russia annual summit.
During his stay in the Indian capital, Putin will hold detailed talks with Prime Minister Narendra Modi, both in the restricted and delegation format, today.
Prime Minister Modi has welcomed President Putin, saying he is looking forward to a productive visit that will take India-Russia bilateral ties to newer heights.
He further said that the bond between the people of the two nations is very strong, and added that New Delhi is keen to take this relationship to the next level.
The India-Russia Annual Summit process was initiated under President Putin's leadership during his visit to India in October 2000.
This year's summit is expected to result in about 15 to 20 agreements in the fields of defence, nuclear energy, science and technology, space, customs among others.
