India Highlighted as Russia's Most Important Strategic Investment Partner

India is Russia's most important strategic investment partner and the two countries have signed several vital agreements, Kirill Dmitriev, the CEO of Russian Direct Investment Fund (RDIF), stated. His comments came in light of the India-Russia Annual Summit jointly chaired by Prime Minister Narendra Modi and President Vladimir Putin.

"First of all, an agreement has been established with Invest in India, the primary agency responsible for attracting investments into the country's economy. As part of this agreement, we, together with our partners, have committed to investing a total of 100 billion rubles in Russian companies entering the Indian market, as well as in Indian companies entering the Russian market," Dmitriev told Sputnik on Tuesday.

Moreover, he shared that Russia and India hold agreements, covering various sectors such as investment, industry, pharmaceuticals, and education, and many other cooperation, which are significant for bilateral ties.

Dmitriev added that in the pharmaceutical sector Russia have signed a "crucial deal" with Indian companies. Polymed agreement involves importing Indian hemodialysis equipment as a substitute, since Russia have strained relations with nations from which it was imported, he said.

Meanwhile, cooperation with Cadila includes construction of a large pharmaceutical enterprise in Russia, while bargain with Enso Group implies investments in the shipbuilding industry in both countries, he highlighted.

"This is an important example of industrial cooperation," he stressed. "And our fourth agreement is in the field of education, we have also agreed to jointly support an innovative information platform focused on the professional workforce in Russia and India within the education sector. This will facilitate the exchange of professional staff between our countries".

The RDIF CEO underscored that there are more projects to be developed with India, as the country's market is the most attractive market for many Russian companies in Asia.

"The Indian market, much like the Chinese and Middle Eastern, is highly attractive. Numerous companies are making their way into Indian market across various sectors, so we see great potential in Russian businesses that are able to enter one of the world's fastest growing markets," Dmitriev concluded.