The Russian Direct Investment Fund (RDIF) and National Investment and Infrastructure Fund (NIIF), established by the Government of India with the support of RDIF, have agreed to set up a USD1 billion Russia-India Investment Fund.
The partners will work together to identify attractive investment opportunities that promote economic, trade and investment co-operation between the two countries.
Under the agreement, RDIF and NIIF will each invest up to USD500 million into the new fund.
The signing ceremony took place in the presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), says: "The Russia-India Investment Fund will support attractive investment opportunities and growth of Russian business activity in India. Our joint investments will also help Russian businesses to significantly expand their presence in one of the largest markets in the world."
