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The State Bank of India (SBI) and the Russia Direct Investment Fund (RDIF), which is a Russian sovereign wealth fund, said that they would establish a $2 billion co-investment consortium for gaining growth opportunities and asset acquisitions in both countries. Each side will invest around $1 billion into the fund. A Memorandum of Understanding (MoU) has been inked as part of Russian President Vladimir Putin s official visit to India.
The proposed Indo-Russia Joint Investment Fund will get the opportunities in the Indian infrastructure space of over $1 trillion and also in the Russian disinvestment programme to boost up the bilateral relations.
The fund will be an...