. Last Updated: 07/27/2016

Russia, India Pledge Trade Boost

NEW DELHI -- Russia and India have pledged to strengthen cooperation in metallurgical and power sectors and to boost trade, officials from both sides said Wednesday.

A joint statement released at the end of Russian Deputy Prime Minister Oleg Davydov's five-day visit said both sides agreed to speed up measures to construct a 2,000-megawatt nuclear power project in southern India.

Davydov on Monday told reporters Russia and India were nearing agreement on the construction of the power project in Kudankulam town in Tamil Nadu state.

The project was first proposed in 1988 but languished following the breakup of the Soviet Union.

The joint statement said India and Russia had shown satisfaction over the outcome of the recent talks to finalize and sign intergovernmental agreements on customs cooperation and avoidance of double taxation.