New Delhi, India: February 13, 2008 – Mukesh Ambani, the Reliance Industries Chairman is likely to co-chair the India-Russia CEOs' Council, established here today to strengthen bilateral business cooperation in the areas of oil, energy, power, transport, telecom and high technology.

Kamal Nath, the Commerce and Industry Minister. at the conclusion of the 2nd meeting of India-Russia Forum on Trade and Investment, is coinciding it with the visit of Russian Prime Minister Victor A Zubkov.

Ten CEOs each from India and Russia will be on the Council, which will work towards converting about $ billion worth of projects under discussion and explore new areas for trade and investment.

With the setting up of the business council, "the level of economic engagement between the two countries should increase," Nath said, while addressing a joint press conference with Russian Minister for Economic Development and Trade Elvira S Nabiullina.

Nabiulliana said, "CEOs' Council will be useful to increase the trade manifold between the two countries."

This development shall also boost the morale of the investors of share holders in Reliance Power.