ENA Global 2018-10-05 08:25:56 <p><strong>New Delhi, Oct 5 (KNN) </strong>India is planning to set up a fast track, single-window mechanism to boost Russian investments in the country, Commerce and Industry Minister Suresh Prabhu said.</p> <p>Earlier a Russia was set up to promote Russian investments in India.</p> <p>Addressing the CII India Russia Business Summit, Prabhu said the mechanism would be led by secretary, Department of Industrial Policy and Promotion (DIPP).</p> <p>Through this mechanism, we will ensure that Russian companies talk to only one ministry and all issues are resolved at one place, he said.</p> <p>Bilateral trade between the countries increased to USD 7.5 billion in 2016-17 from USD 6.2 billion in the previous fiscal but is skewed towards Russia.</p> <p>Prabhu said the two countries could cooperate in sectors such as energy resources, gold and diamonds, timber, infrastructure development, digital technologies and agriculture, among others.</p> <p>Meanwhile, on Thursday, Union Cabinet had approved the signing of a Memorandum of Understanding (MoU) between National Small Industries Corporation Ltd. (NSIC) of India and Russian Small and Medium Business Corporation (RSMB).</p> <p>The MoU will provide a structured and enabling environment to the MSME sector of the two countries for understanding each other's strengths, markets, technologies, policies etc.</p> <p>Russian President Vladimir Putin is on a two-day official visit to New Delhi for the 19th India-Russia annual bilateral summit. <strong>(KNN Bureau)</strong></p> 20990 https://knnindia.co.in/news/newsdetails/global/india-to-set-up-fast-track-single-window-mechanism-to-boost-russian-investments-in-the-country-prabhu 2018-10-05 08:25:56 knnindia.co.in