RDIF and India’s NIIF Form $1 Billion Indian Investment Fund
Russia is seeking to tap India’s thirst for oil. India is the world’s third biggest oil importer, according to the International Energy Agency (IEA).
The Russian Direct Investment Fund (RDIF) and India’s National Investment and Infrastructure Fund (NIIF), have agreed to form a US$ 1 billion Russia-India Investment Fund. Russia is quickly cementing ties in the Eastern hemisphere, by forming investment partnerships. Under the agreement, RDIF and NIIF will each invest up to US$ 500 million into the new joint venture fund. The signing ceremony took place on October 15, 2016 in the presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.
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