Noting that bilateral trade with Russia has been below potential, India has hoped that obstacles like lack of direct routesa and difficulties in market access would be overcome to help correct the situation.

As the two countries celebrated 60th anniversary of establishment of diplomatic ties on Friday, External Affairs Minister Pranab Mukherjee said India is keen to build further on the 'unparalleled' partnership of years with 'key friend and partner' Russia.

"Partnership with Russia has been and remains a priority of Indian foreign policy," Mukherjee has said in an interview to Russian news agency Itar-Tass. He underlined that the Indo-Russian relations, which have withstood the test of time, will prove to be an important factor for mutual security and prosperity and contribute constructively to global peace and economic development.

Referring to bilateral trade, he said it was far below potential and emphasised the need for accelarating the economic cooperation.

"The lack of direct trade routes, inadequate linkages between banking sectors, difficulties in market access and business travel are some of the reasons for the relatively slow growth of trade," Mukherjee said.

He hoped that the Joint Study Group and close contacts between the businessmen and companies will help "overcome existing obstacles to faster growth in trade and investments."