5th Meeting of the India Russia Working group on Modernization and Industrial Cooperation
Sri
Ramesh Abhishek, Secretary, Department of Industrial Policy and
Promotion led the Indian delegation to participate in the 5th meeting of
the India-Russia Working Group on Modernization and Industrial
Cooperation which were held in New Delhi on August 18, 2016 and held
discussions with the Russian delegation headed by Mr Alexander Potapov,
Deputy Minister of Industry & Trade of the Russian Federation.
The talks during the meeting were held in a constructive atmosphere and
both sides acknowledged their mutual interest in further strengthening
and expanding bilateral cooperation between Russian and Indian companies
in different sectors. Both sides also took note of the discussions held
during the meeting of subgroups on Modernization, Mining, Fertilizers
and Civil Aviation.
In the civil Aviation sector Russian side declared its readiness to
participate in the “Make in India” program in order to develop
technological and production capabilities of the Indian side in this
field and potential supplies of the jointly produced equipment to third
countries.
As regards fertilizer sector, both sides expressed mutual interest in
developing the long-term and mutually beneficial cooperation in the
field of 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 Fertilizers of the Republic
of India.
Both sides also identified specific areas of cooperation in the field
of mining and metallurgy. The Indian side expressed interest in joint
development of coal fields and iron ore mines in Russia. They agreed to
exchange information on such areas having potential for cooperation.
Other specific fields identified for enhancing cooperation included
technology for production of CRGO steel in India, pharmaceutical
industry, modernization of steel manufacturing facilities in India and
participation of Indian power equipment supplier in modernization of
power sector in Russia.
The Russian side reconfirmed their interest in receiving information
about possible participation of Russian companies in the Delhi-Mumbai
Industrial Corridor.
Both sides have agreed to hold the next meeting of the Working Group in 2017 in Russian Federation.
*****
MJPS
(Release ID :149002)
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