The Indian Prime Minister Manmohan Singh addressed an audience of Indian and Russian businessmen gathered at a meeting in Moscow, to cooperate better for building stronger ties. He asked the two to capitalise on each other’s assets of Russia being the world's second largest diamond producer and India being the biggest processor of precious stones.%%This was the fourth visit of the Mr. Singh to Russia, encouraging cooperation within the diamond industry. A second meeting of the Indo-Russian Forum on Trade and Investment will be hosted by India next year in February.%%An Indo-Russian joint study group which was formed in 2006 has estimated that if the two countries become compatible with each other, trade volumes between the two can be increased to US$10 billion by 2010, up from the current level of US$4 billion. He also mentioned that the two countries can mutually invest in other sectors like banking, information technology, telecommunications, pharmaceuticals and textiles.