Russia Underperformed In Indian Economy: Moscow Professor

Singapore, Sept 24 (PTI) Economic relations between Russia and India have been slower than expected, given that the two powerhouses have very close diplomatic and military relations, a Russian professor has said.There were advantages for Russia to participate in India''s huge potential of developing business and investment relations, but Moscow''s focus has remained limited due to their investment policy restrictions, Dr Dmitri Trenin, chair of the Moscow''s Centre Foreign and Security Policy Programme said in Singapore today. Except for the joint "BrahMos" missile project, Russia seems to have missed on the opportunities in working in Indian business sectors, he told reporters on the sideline of the inaugural Singapore Global Dialogue. Nevertheless, Russia had favoured India as a preferred partner, providing the Indians with a advanced-technology SU 30s when compared with China, said Dr Trenin who spoke as an independent observer of the India-Russia relations. Touching on Russia and China relationship, he said Moscow value it and would not want to have any problem with the Chinese. "It wants the relationship to be stronger with the Chinese for it has a long border with Chinese. But in more sense, the Russians would want to sell its technology to India than to China," Dr Trenin stressed.

Elaborating on the underperforming Russia-India economic relations, he stressed that India "is a market growing at a fast pace" and Russian companies should had been in India as part of their International businesses development. With the exception of a few sectors, such as telecommunications, Russian businessmen should have been in the vibrant Indian markets, especially where the Indian entrepreneurs have business alliances with foreigners. "I think the Russians were complacent for a period of time, and at one time thinking that the Indian arms market was something forever was theirs. But they did not do well enough and provide the technology and services as the Indians were actually asking for," he stressed. "Though there were limits on what the Russians could do, there was not enough even within ''the possible efforts'' they could have made to participate in Indian market," said Dr Trenin. evertheless, the Russians had a unique situation with India, given that between the two major powers there were no problems, yet there was a shortfall in developing business, he pointed out.

"You cannot have such a strong relationship between the two major nuclear powers and yet they were underperforming economically in what India could have offered to the Russians," he said. Russia is still restucturing its economy .....their main draw have always been their arms exports and defense R&D.....economically there are few areas where any sort of cooperation is possible.....IT in Russia is more based on receiving outsourced project work like software design, micro E....etc areas where it is a competitor not a supplier to India and China......basically it is developing on the lines of India and hardly has any expertise in large scale manufacturing , biotech , etc the fields in which India is trying to garner increased investment.......

Study of Medicine though can be a potential area for it is loads of Indian students opt for Medicine as a course in Russian universities....

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