India, Russia sign 30 MoUs to boost trade and investments

Vladivostok: India and Russia have signed 30 memoranda of understanding to promote trade and investments during Prime Minister Narendra Modi's visit here, FICCI President Sandip Somany said on Thursday.

Industry leaders from both countries want trade relations to take a giant leap, he said.

"The visit has been good. A total of 30 MoUs were signed of which 16 were in the private sector and the rest government-to-government," said Somany while talking to ANI.

"The relationship between India and Russia is on the rise. Prime Minister Modi and Russian President Vladimir Putin want these strategic and friendly relations that we have for over 70 years to move into another trajectory," he added.

Coal India Chairman Anil Kumar Jha said India is interested in acquiring coal mines in Russia's Far East region. The extracted coal can be taken to India for steel making.

Co-founder of Medanta Sunil Sachdeva said India and Russia can collaborate in the healthcare sector.

"They have developed a sensor through which we can sense brain stroke with one drop of blood. Every year, we have 1.5 million people in India with brain strokes. If we can save some lives, it will be good," he said.

India and Russia signed several agreements on military and technical cooperation, energy and science, LNG and natural gas.