India and Soviet Union Agree To Raise Bilateral Trade
NEW DELHI, April 10, India, (Reuter): India and the Soviet Union have agreed to more than double annual bilateral to 100 billion rupees (7.6 billion dollars) by 1992, an Indian External Affairs Ministry spokesman said today. The spokesman said a series of agreements, including two on industrial production and telecom communications were reached yesterday on the second day of a visit to India by Soviet Deputy Prime Minister Valadimir Kamentsev.
He said Kamentsev and Indian Officials agreed to strengthen economic relations and discussed cooperation in the fields of petroleum, coal, gas, civil aviation and electronics.
The two countries had agreed to raise the level of two way trade, estimated at an annual 3.5 billion dollars, during Soviet leader Mikhail Gorbachev’s visit to India last November.
Kamentsev also signed an agreement under which the Soviet Union would cooperate with India in the production of industrial goods and machines.