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Russia to help India in four industrial areas

Both sides acknowledged their mutual interest in strengthening and expanding bilateral cooperation among each other

Policy Pulse
Publish Date: Aug 19 2016 9:19AM | Updated Date: Aug 19 2016 9:19AM

Russia to help India in four industrial areas

 Russia will help India in four key areas of fertilisers, mining, metallurgy and civil aviation, said an official statement after the meeting of the India-Russia working group on modernisation and industrial cooperation in the national capital.

 
"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 during  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.
 
Both sides acknowledged their mutual interest in strengthening and expanding bilateral cooperation between Russian Indian firms in different sectors.
 
Indian and Russian delegations also took note of the discussions held in the meeting of subgroups on modernisation, civil aviation, mining and fertilisers.
 
"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 pharmaceutical industry, participation of Indian power equipment suppliers in modernisation of power sector in Russia and modernisation of steel manufacturing facilities in India.
 
"Russia reconfirmed its interest in receiving information about possible participation of its companies in the Delhi-Mumbai Industrial Corridor," the statement added.