Pm Modi Visit to Russia – Announces $1 Billion line of credit for Russia’s far east Development
Author – Hardik Sharma
Prime Minister Narendra Modi on Thursday aforementioned that India can walk shoulder-to–shoulder with Russia in its development of the region and declared a $1 billion line of credit for the event of the resource-rich territory.
Addressing the comprehensive session of the Fifth Japanese Economic Forum, Prime Minister Modi stated that the relationship between the Republic of India and the Russian Federation wasn’t just restricted to governmental interactions in capital cities, rather it was regarding folks and amicable business relations.
Prime Minister Modi also reiterated the fact that India was the first nation in the world to establish a Consulate in Vladivostok. Modi also unveiled the new Act Far East policy of his government that has led to India investing in the Eastern part of the Russian Federation. Indian firms have till now invested $7 billion in Russian fields containing oil and natural gas. These deals have not only prompted growth in the share market but will also give a boost to Russian and Indian economies along with sustainable financial developments.