Government of Russia seeks support from Indian Industry to Invest in its Far East Region

Ministry for the Development of the Russian Far East, Government of Russia is seeking investment from Indian business to develop bilateral cooperation in Oil, Minerals, Pharmaceuticals, Paper industry, Logistics and film production.

“We look forward to the support of Indian business to develop Diamond, Gold, Silver, Copper and Coal mines as well as invite Indian film industry to the picturesque, Far Eastern Federal District of Russia”, said Mr. Aleksei V. Surovtsev, Consul General of the Russian Federation in Mumbai at an interactive meeting organised by All India Association of Industries (AIAI) and World Trade Center (WTC) Mumbai on 18th April 2019. Representatives from Bank for Development, Vnesheconombank, Ministry for the Development of the Russian Far East and Russian Export Center also interacted with members.

‘Far Eastern Federal District of Russia’ is the largest of the eight federal districts of Russia. It lies within the easternmost part of Asia. Vladivostok is the administrative centre of this economically developed District.

Ms. Alexandra Chernova, Director – Cooperation Division, Far East Investment and Export Agency said, “India is the fastest growing economy and offers great potential for Russian companies to invest. The Russian Far East region is the fastest growing economic zone in Russia. Later this year Mr. Yury Trutnev, Hon’ble Deputy Prime Minister of Russia is visiting India to explore cooperation among Indian business to develop this region. There is a tremendous scope to develop joint mining projects on Diamond, Gold, Silver, Coke as well as develop infrastructure and logistics projects.” The delegation accompanying the Hon’ble Deputy Prime Minister of Russia will hold series of meetings with potentials Indian partners and will have special meetings with film producers to promote film shooting and post production work”, she concluded. Ms. Chernova further requested World Trade Center Mumbai and All India Association of Industries to help in organizing meetings in Mumbai.

Mr. Vijay Kalantri, Vice Chairman- World Trade Center Mumbai and President – All India Association of Industries said, “The bilateral relations between India and Russia have been a key pillar of India’s foreign policy. In 2017-18, the bilateral trade was USD 10.7 bn. There is a huge potential to increase the trade to over USD 50 bn. in the next decade. Mining, Pharmaceuticals and bollywood film production are potential drivers for enhancing economic cooperation between India and Russia.”

AIAI  and WTC Mumbai offered its full cooperation for the success of Hon’ble Deputy Prime Minister of Russia’s visit to Mumbai.

Ms. Rupa Naik, Senior Director proposed the vote of thanks. 

L to R) –Ms. Alexandra Chernova, Director – Cooperation Division, Far East Investment and Export Agency, Mr. Vijay Kalantri, President – All India Association of Industries and Vice Chairman- World Trade Center Mumbai, Ms. Rupa Naik, Senior Director, World Trade Center Mumbai and Mr. Aleksei V. Surovtsev, Consul General of the Russian Federation in Mumbai during an interact meeting