<h1>India-Russia infra fund</h1> [caption id="attachment_5637" align="alignnone" width="275"]<a href="http://www.fii-news.com/wp-content/uploads/2017/03/Sitharaman-at-IESS-2017.jpg"><img class="size-full wp-image-5637" src="http://www.fii-news.com/wp-content/uploads/2017/03/Sitharaman-at-IESS-2017.jpg" alt="" width="275" height="183" /></a> <em>Minister Sitharaman lighting the lamp at IESS 2017.</em>[/caption] <h5>India and Russia are setting up a US$1 billion fund to promote mutual investments in infrastructure and technology projects.</h5> <!--more--> #Russian Direct Investment Fund (RDIF) would provide US$500 million and the other half will be accrued from the #National Investment and Infrastructure Fund. #Commerce and Industry Minister Nirmala Sitharaman announced this at the India-Russia Business Forum being held with International Engineering Sourcing Show (IESS) in Chennai on 17 March 2017. Despite being a big ally of India, Foreign Direct Investment (FDI) from Russia has remained low at $1.2 billion till date compared with the US$4.9 billion Indian investment in Russia, mostly in the energy sector. India has also asked Russia to adopt a liberal approach in sharing technology for components of major defence assets as most of its weapons systems are of Russian-origin. <em>fii-news.com</em>
