Business Meeting in Honour of H E Mr. Vladimir Putin, President of The Russian Federation
December 4, 2002, New Delhi

Welcome Address by Mr R S Lodha, President, FICCI

OOVA ZHAIEME GOSPADIN President Vladimir Putin,
H E Mr Ilya Klebanov, Minister of Industry, Science & Information of the Russian Federation
Mr. Yashwant Sinha, Hon'ble Minister of External Affairs, Government of India
Mr Kanwal Sibal, Foreign Secretary, Government of India
H E Mr Alexander M Kadakin, Ambassador of the Russian Federation to India
Mr K Raghunath, Ambassador of India to the Russian Federation
Mr. Ashok Soota, President, Confederation of Indian Industry
Your Excellencies,
Delegates and Friends,
Ladies and Gentlemen,

I consider it to be a great privilege for having been asked to deliver the concluding remarks this afternoon.
We are extremely fortunate to have had the opportunity to listen to a very enlightening speech by H E Mr. Vladimir Putin, Hon'ble President of the Russian Federation about whom the former president of Russia, Mr. Boris Yeltsin once said and I quote "he will be able to unite around himself those who will revive great Russia in the new, 21st century" unquote. We are also fortunate that the Hon'ble President has again reiterated the desire to take forward Indo-Russian friendship and contacts, the stability and strength of which has passed the test of time and was checked during the most complicated turns of modern history. In fact Mr. Putin himself in the recent past has remarked and I quote " The traditionally friendly relations between Russia and India have of late assumed a new quality and reached the level of strategic partnership." Unquote.
The closeness in our relations has been sustained over time not only by our common interests and concerns but by affinities between our two vibrant civilizations. The Russian traveller Afanasi Nikitin came to India nearly a quarter of century before the Europeans set foot on the Indian soil. Your people read our great poet Tagore's Noble Prize winning Geetanjali. Leo Tolstoy is a household name in India. Even the Father of our nation Mahatma Gandhi named his Ashram the Tolstoy Farm.
It is this inseparable bond that we strive to strengthen further, especially in the new post-cold-war context which is bringing about a rearrangement of world order.
We in India have been watching with admiration the resurgence of Russia and emergence of a new generation of young leaders (like yourself) in the Russian Federation. We see in you a person of wide ranging accomplishments and a great friend of India.
Ladies and Gentlemen, as you all know that the economic and commercial ties between India and Russia are strong; they are getting stronger.
Mr President, Sir, on behalf of Indian business, FICCI in India and its counterpart, the Russian Federation of Chambers of Commerce and Industry, have jointly planned to hold the Joint Business Council meeting in Moscow from 17-21 February, 2003, coinciding with the Indian Trade Exhibition.
The Federation of Indian Chambers of Commerce and Industry (FICCI) pledges to focus on the six sectors of business interface. These are, Biotechnology & Pharmaceuticals, Food and Agro Processing, Information Technology and Software, Hydrocarbons, Minning & Metallurgy and Mineral Sciences. We will also produce a well throught out business plan for creating the edifice for sustainable trade, not just in commodities, but a diversified portfolio with depth and breadth.
Sir, your knowledge and your capabilities in the area of oil and gas, power and energy and metallurgy and metal-based industries are immense and it is here that we seek your support. India imports nearly 70% of its oil consumption annually and the dependence is set to rise in years to come. For India's economic security, it is important to secure its oil supplies and who could be the most reliable supplier of oil other than Russia. Russia's R&D efforts in the fields of metallurgy and metal-based industries have yielded rich dividends in the past and Indian firms would gain substantially by partnering with the Russians in these fields.
Your Excellency, thank you so much for your support and guidance and we hope it would continue in the future as well.
I also take the opportunity to thank on behalf of Indian Industry, Mr. Yashwant Sinha, Hon'ble Minister of External Affairs, Government of India. Under his able leadership and guidance India has seen strengthening of its bilateral and diplomatic relations with counties all over the world.
I would like to express my gratitude towards our sponsors for their invaluable support for today's meeting.
I conclude by drawing your attention to the ultimate resource, human capital. As the digital revolution unfolds and information technology sweeps the world, it is human ingenuity and new frontiers of knowledge that will drive industries, services and even advanced agro production and food processing. It is here that the rich educational and scientific capabilities of our two countries could spread our future engagement.
(President Speaks in Russian Language.)
You have always been our true friends. In this new millennium, given our many common geopolitical and economic interests, let us usher in a new era of much more intensive cooperation and partnership. I welcome you all cordially.

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