Oil deals and diamond contracts are on the docket for Prime Minister Vladimir Putin in India, where he is scheduled to arrive Thursday.
India’s state-run Oil and Natural Gas Corp may be invited to develop oil and gas fields in Russia, the government said Thursday.
ONGC has already agreed to cooperate with oil-to-telecoms group Sistema, which controls assets in Bashkortostan, and may also gain access to lucrative oil and gas projects in Russia’s Far North, the government said.
Sistema, in turn, was looking to deepen investment in its Indian mobile unit, Sistema Shyam TeleServices, with more than $600 million, the government said in a statement.
Russia aims to more than double trade with India to $20 billion by 2015. Putin is expected to preside over deals worth more than $10 billion, spanning defense, nuclear power and fertilizers, when he visits this week.
The Moscow Times for more