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Russia should take advantage of business possibilities in India: Modi


New Delhi, Inviting Russian companies to invest in defence production, energy, pharma, infrastructure and IT sector , Prime Minister Narendra Modi on Friday said that Russians businessmen should take advantage of business possibilities in India. Addressing a joint meeting of industrialists of India and Russia here, Mr Modi said,' relations of India and Russia have moved forward and now the Russian industrialists should think about production in India. ' Speaking at the India- Russia Business Summit, Mr Modi said that under the Make in India programme, Russian companies can jointly manufacture in India with Indian industries and can take advantage of low production costs and wide potential here. On the occasion, Russian President Vladimir Putin was also present.Referring to the economic reforms made during the past four years, the Prime Minister said that the relations of both countries were centuries old and they stand on mutual trust and understanding. 'A mechanism has been established in India for Russian industrialists where all their problems are resolved,' he stated. Russia's contribution to India's socio-economic progress is huge, Mr Modi said, adding that Indian economy is growing at the fastest pace in the world. ' This is the sixth largest economy and will soon be among the top five, ' he stressed.  

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