India on Monday accepted Russia’s invitation and confirmed that it will be a partner country at the ‘INNOPROM 2016’ industrial fair.
The fair will be held at Yekaterinburg in July 2016.
Minister of State (Independent Charge) for Commerce and Industry Nirmala Sitharaman, who was in Russia on an official visit, conveyed this news to her counterpart Denis Manturov at a bilateral meeting held at St. Petersburg. India is also likely to participate in the key handing over ceremony at Moscow later this year.
During her visit to Russia, both sides agreed that the present level of investment and trade between the two countries can be increased from its current value of USD 13 billion and declared their intention to take all necessary steps to ensure that a target of bilateral investment of USD 15 billion each is achieved by 2025.