Vladimir Putin on short visit to India

Vladimir Putin on short visit to India

The visit of the Russian Prime Minister Vladimir Putin was not really planned as the two countries have a regular practice one head of state visiting the other country every year. However, the Indian officials just could not overlook a request for a "working visit" by someone so important on the international political arena.

Putin has cut short his visit by one day and has kept all his engagements strictly related to business. The official delegation he heads includes members of the Russian Telecom major Sistema, a fact that surprised some officials.

This will be the Putin's 5th visit to India. Russia is increasing uneasy about the US-India relationship however it shares India's concerns on terrorism and other matters.

Strategically Russia sees a partner in India as it too wants terrorism in Afghanistan or Pakistan to be crushed as it also could cause disturbances in central Russia, it is concerned like the US over the rise of India and China and it wants a stronger Indian Navy controlling the Indian navy which would leave lesser space for the US navy in the region.

There are many challenges in the relationship between the two countries. India is a major export destination for Russian defense equipment while India business persons often complain of the strict regime for doing business in Russia and even hurdles in obtaining a Visa.

The two countries share strategic vision for the era and are likely to maintain their strategic partnership despite looking elsewhere for new friends and alliances.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.