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Russia to help India in four key industrial areas

Russia to help India in four key industrial areas
August 19
12:16 2016

New Delhi, Aug 19  Russia agreed to help India in four key areas of civil aviation, fertilisers, mining and metallurgy, said an official statement after the fifth meeting of the India-Russia working group on modernisation and industrial cooperation here on Thursday.

“In the civil aviation sector, the Russia delegation declared its readiness to participate in the ‘Make in India’ programme to develop technological and production capabilities of the Indian industry and potential supplies of the jointly produced equipment to third-world countries, the statement pointed out.

Department of Industrial Policy and Promotion Secretary Ramesh Abhishek led the Indian delegation and Deputy Minister of Industry & Trade Alexander Potapov led the Russian delegation at the meeting.

“In the fertiliser sector, both sides expressed interest in developing the long-term cooperation in mineral fertilizers in the framework of the memorandum of understanding between the Ministry of Industry and Trade of the Russian Federation and the Ministry of Chemicals and Fertilisers of India,” the statement noted.

The talks were held in a constructive atmosphere and both sides acknowledged their mutual interest in strengthening and expanding bilateral cooperation between Russian and Indian companies in different sectors.

Both sides also took note of the discussions held in the meeting of subgroups on modernisation, mining, fertilisers and civil aviation.

“Both sides identified specific areas of cooperation in mining and metallurgy. India expressed interest in the joint development of coal fields and iron ore mines in Russia,” the statement said.

Other fields identified to enhance cooperation included technology for production of CRGO steel in India, pharmaceutical industry, modernisation of steel manufacturing facilities in India and participation of Indian power equipment suppliers in modernisation of power sector in Russia.

“Russia reconfirmed its interest in receiving information about possible participation of its companies in the Delhi-Mumbai Industrial Corridor,” the statement added.

Both sides have agreed to hold the next meeting of the Working Group in 2017 in Russia.

 

 

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