Russian govt to increase capital in Indo-Russian JVs

The Russian government has decided to increase the capital in its various joint ventures with India, Finance Minister Alexei Kudrin said.

The Russian government has decided to increase the capital in its various joint ventures with India, Finance Minister Alexei Kudrin said.

"The government has decided to pay special attention to a number of Russian-Indian joint ventures, their capital will be raised," Kudrin said in a press conference yesterday after an anti-crisis meeting of President Vladmir Putin-led cabinet.

He, however, did not identify the ventures. Kudrin said that the decision was not a part of the anti-crisis measures of the government and the funds for the joint ventures would be raised from debt repayment by India.

Russia has several India-based joint ventures, including BrahMos Aerospace and telecom provider Shyam Tele Services.

Work is underway to operationalise titanium dioxide plant in Orissa for the production of titanium sponge.

Moscow and New Delhi are also in talks over setting up a joint venture for the development and production of multi-role transport aircraft for the armed forces.

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