Tuesday, December 21, 2010

Medvedev joins scramble for India’s business

Like his peers, Mr Medvedev heavily promoted the complementary nature of his economy to India and pushed for a “modern” engagement across sectors including pharmaceuticals, defence and space technology.“I believe that trade between us does not nearly reflect our privileged partnership,” Mr Medvedev observed. “India is a comfortable partner especially in energy.”
He and Manmohan Singh, India’s 78-year-old prime minister who enjoys a high international standing as a statesman and a development economist, agreed a target of doubling bilateral trade to $20bn within five years to re-energise deep ties forged in the decades after India's independence
These now face competition from warming relationships with western powers, and the regional dominance of the Chinese economy.
Mr Obama, in a warmly received address to India’s parliament, described India as “emerged” rather than an emerging power and market.
They have also addressed India’s concerns about security in south Asia, and the threat of extremism from Pakistan and Afghanistan.

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