2.1 C
New York
Sunday 28 November 2021

Buy now


HomeEconomyIndia to partner Russia in trade fair

India to partner Russia in trade fair


St Petersburg, Russia — India accepted the invitation extended by the Russian government to participate as the partner in the major industrial fair “INNOPROM 2016” to be held at Yekaterinburg, Russia in July 2016. This was conveyed by Minister of State (Independent Charge), Commerce & Industry, Nirmala Sitharaman to her counterpart Denis Manturov, Minister of Industry and Trade of Russian Federation, at a bilateral held at St Petersburg on 19 July.

India is likely to participate in the key handing over ceremony at Moscow later this year.

Sitharaman led a strong delegation to the annual St Petersburg International and Economic Forum (SPIEF) held 18-20 July at St Petersburg, Russia, which included a 30-member business delegation from CII. The Minister held bilateral discussions with Viktor Khristenko, Chairman of the Eurasian Economic Union, Denis Manturov, Minister of Industry and Trade and Andrey Slepnev, Member (Trade), Eurasian Economic Union.

CII signs an MoU with the Russian Chamber of Commerce and Industry in St Petersburg
CII signs an MoU with the Russian Chamber of Commerce and Industry in St Petersburg

The commerce MoS signed a joint statement for establishment of a joint study group between India and the Eurasian Economic Union. The group will submit its report within a year regarding the feasibility of an FTA between India and the Eurasian Economic Union, namely Russian Federation, Kazakhstan and Belarus. India is already negotiating the International North-South Transport Corridor Project (INSTC) with Russia to promote bilateral trade. The project proposes greater movement across Nhava Sheva (Mumbai) through Bandar Abbas (Iran) to Astrakhan (Russia) and Baku (Azerbaijan).

The Indian minister highlighted the importance of this corridor to her counterpart during her bilateral discussions emphasizing the need for multinational access of Eurasian countries to this proposed route.

The minister participated in the panel discussion on “The Eurasian Economic Union: A new Compass in Global Economic Relations” during SPIEF. The issue of renewal of Bilateral Investment Promotion and Protection Agreement (BIPPA) between India and Russia came up for discussion, too, during her bilateral interactions. Both sides agreed that the present level of investment and trade between the two countries which is presently in the range of $11 billion and $13 billion was very low, given the warm relationship between the two countries. The two sides agreed to take all necessary steps to ensure that the target of bilateral investment of $15 billion each way by the year 2025 signed during the last Annual is achieved.

The minister informed the Russian side about the rationalisation and liberalisation of FDI policy in India and steps taken for ‘Ease of Doing Business’ in India under the flagship programme “Make In India” launched by the Prime Minister Narendra Modi in September 2014.

The minister emphasised that India was among the most open economies for making investment and that the recent initiatives offered huge opportunities for Russian investors in India.

Sirf News needs to recruit journalists in large numbers to increase the volume of its reports and articles to at least 100 a day, which will make us mainstream, which is necessary to challenge the anti-India discourse by established media houses. Besides there are monthly liabilities like the subscription fees of news agencies, the cost of a dedicated server, office maintenance, marketing expenses, etc. Donation is our only source of income. Please serve the cause of the nation by donating generously.

Support pro-India journalism by donating

via UPI to surajit.dasgupta@icici or

via PayTM to 9650444033

SAD announces four more candidates for 2022 #Punjab polls, Nusrat Khan to contest from Malerkotla


Warships & aircraft from India, Sri Lanka and Maldives conduct maiden ‘Colombo Security Conclave (CSC) Focused Operations’ over a vast area in the Exclusive Economic Zones (EEZ) of the three countries in Southern Arabian Sea.


#पंचमुखी_हनुमानजी अब केस प्रापर्टी नही रहे।
बड़े मंगल पर तुष्टिकरण से पोषित दुर्जन तत्कालीन SOगाजीपुर प्रशांत मिश्रा,एसीपी गाजीपुर सुनील शर्मा,SDMसदर प्रफुल्ल त्रिपाठी ने
#ॐशिवशक्ति_पीठ_शनिदेव_मंदिर एब्लॉक इंदिरानगर लखनऊ से बलपूर्वक #पंचमुखी_हनुमान जी की मूर्ति हटवाई थी।

Read further:

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -



%d bloggers like this: