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12 Feb, 2008 05:17

Russia aims to double India trade

Russian Prime Minister Victor Zubkov is in India for the second Russian-Indian trade and investment forum.

He's already met with representatives of the Indian government in the capital New Delhi.

The Russian Prime Minister is accompanying a large trade delegation including the Sistema holding.

Sistema plans to  form  a  national cellular operator in India within two years, the firm's boss Vladimir Yevtushenkov said in Delhi on Tuesday.

The network will cover every state in India and could cost up from US$5 to US$7 billion, Yevtushenkoov said.

Sistema plans to increase its stake in India's Shyam Telelink from 51 percent to 74 percent within two years.

Victor Zubkov said economic cooperation is a key element in the relations between the two countries.

Currently the bilateral trade volume is around US$ 5 billion but Zubkov said it could double by 2010.