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Russia and India want to get into the new game of collaboration for economic gain. After the development of the European Union, NAFTA, the sound of a North American Union, the rising of China’s economic power, Russia needs to increase their damaged economy and slow economic development. Their solution is to partner with India. The first ever Russian-Indian forum on trade and investments has become a reality. The results of this meeting were considered successful and are expected to result in further talks that have a substantial upsurge in Russian-Indian trade and economic cooperation. According to a Russian minister the meeting has passed agreements to increase trade and further the economic interests of both countries. The meeting was held between 200 Russian companies and 300 Indian companies. The direct results of this meeting are expected to increase collaboration between the two countries an additional 3 billion dollars worth of trade. Collaboration in banking and finance, insurance, commercialization of scientific and technical development studies, education and tourism is desired. Further cooperation in energy and mining would be beneficial. The collaboration between Russia and India isn’t much of a threat other than tying India more closely to Russia. India has been a pro-U.S. destination for outsource of call-centers and technology based businesses which leaves the country on a first name basis with the U.S. However, the new collaboration between Russia and India will mark a time of increased economic exposure of India to competing interests and these could affect its overall relationships. Murad Ali is a three-time author, a Ph.d. candidate, and a human resource professional. http://www.thenewbusinessworld.blogspot.com
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