Russia and India work on 20 priority investment projects

Russian President Vladimir Putin said Russian and Indian governments will support joint investment projects in transport engineering, chemical industry, aircraft industry and pharmaceuticals
Russia and India work on 20 priority investment projects
13 October 11:16 2016 Print This Article

Some 20 priority investment projects in such spheres as transport engineering, chemical industry, aircraft industry and pharmaceuticals will be implemented with the support of Russian and Indian governments, assured Russian President Vladimir Putin in an interview with RIA Novosti.

According to him a Working Group on Priority Investment Projects has been established to successfully operate within the framework of the Intergovernmental Commission. Therefore, relevant agencies of the two countries together with the India–Russia Forum on Trade and Investment are engaged in a rigorous selection of promising business initiatives and work on identifying and removing barriers to the free flow of goods, capital and services.

“As for today, 20 priority projects have been selected – 10 Russian projects and 10 Indian ones – in such spheres as transport engineering, chemical industry, aircraft industry and pharmaceuticals,” Mr Putin said.

Among projects are mentioned: the construction by the SIBUR Holding of a rubber making facility with an operating capacity of 100 thousand tonnes per year in the city of Jamnagar, and production by Russia’s Lighting Technologies Company of lighting equipment for general and specific purposes in the city of Jigani, the Karnataka State. The Sistema Financial Corporation is developing a ‘smart city’ model in India. Dauria Aerospace is working on the deployment of the NextStar telecommunication satellite constellations in the geostationary Earth orbit.

Mr Putin will visit India on October 15-16 to hold talks with Indian Prime Minister Narendra Modi, as well as to take part in the VIII BRICS summit.

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