Indian PM to talk trade with Russia, China

Yet India’s trade deficit with its neighbor soared to US$40.77 billion last year from US$1.08 billion in 2001 to 2002, Indian figures show.

Kondapalli said Singh, from the Congress party, was under pressure to boost trade and lure foreign investment to help turn around the economy, which grew at a decade low last year.

“The economic growth of the country weighs heavily on the upcoming elections [due by May] and Congress is pretty dependent on reviving it in order to win,” Kondapalli said.