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Oil, industrial credits promised India by USSR

By With Analysis from Monitor Correspondents around the world, Edited by Randy Shipp / December 16, 1980



New Delhi

The Soviet Union agreed to supply more than 23 million metric tons of oil and petroleum products to India over the next five years and to make available about said. She said the Soviet credits would be available for projects in the fields of power, coal mining, and oil exploration and would be in addition to aid to India's steel industry. The two countries indicated earlier that they planned to increase bilateral trade exchanges to ta total of $13 billion during the next five years, against an estimated $6.5 billion during the 1976-80 period.

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