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In Vladivostok, discussed the prospects for Russian-Indian cooperation in the FEFD

With the assistance of the Far East Agency for Attracting Investments and Export Support (ANO API), with the support of the Confederation of Indian Industry (CII) and the Primorsky Territory Administration in Vladivostok, a plenary session “Opportunities, conditions and projects for Russian-Indian cooperation in the Far East of Russia ” was held. The event was organized as part of a visit to the Primorsky Territory by an Indian business mission.

Opening the session, the vice-governor of the region, Konstantin Bogdanenko, emphasized that for many years India has been one of Russia's key partners. “In 2018, the foreign trade turnover of Primorsky Krai with India increased by 20% and amounted to more than $ 42 million. We offer you investment projects in the field of agriculture, engineering, food, pharmaceutical, light industry, production of building materials, processing of mineral raw materials, ”he said.

The Deputy Prime Minister noted that the regional administration and the structures specially created in the region are ready to provide Indian companies with possible assistance in overcoming administrative difficulties in the implementation of investment projects.

Investment opportunities of the Far Eastern regions were presented by Stanislav Varnakov, Director of Investment Projects at ANO API. He noted that a number of projects with the participation of Indian investors are already being implemented in the Far East. This is facilitated by preferential modes of TOR and free port. With the help of SPV, the Indian company KGK (KGK) opened a diamond cutting factory in Vladivostok. Now the company plans to launch a timber processing complex in the Far East. The company "JT" using SPV launched a tea-packing factory. Another Indian company, M.Suresh (M.Suresh), plans to launch a diamond cutting factory in Vladivostok. In Kamchatka, a project has been launched to develop the Krutogorovsky coal deposit in the Kamchatka Territory. Investor - Indian company Tata  Power. Now the project is in the feasibility study stage. The Indian company ONGC Videsh limited owns 20% of Sakhalin-1. In Primorsky Krai, companies with Indian investments successfully work, such as: “Jay Rus”, directly importing tea from India; EAST-PHARM, a subsidiary of Pharmasintez, which manufactures pharmaceuticals; wholesale and retail company - Indigo Nest and others.

“Recently, our Agency held a road show in India. Our representatives, with the support of the Confederation of Indian Industry (CII), the Russian Trade Representation in New Delhi, the Consulate General of the Russian Federation in Mumbai and the Consulate General of the Russian Federation in Calcutta, met with 23 companies and organizations in three cities. We are pleased that now representatives of 11 Indian companies have arrived in Vladivostok with a business mission. The session aroused great interest among Primorye entrepreneurs. More than 40 maritime enterprises of industry, commerce and services were registered for the event, ”Stanislav Varnakov stressed.

First Secretary of the Embassy of the Republic of India in Russia, Vrindaba Gohil, thanked ANO IPA and the administration of Primorsky Krai for organizing this visit. “Primorsky Krai is a land of opportunity, and we would like more Indian companies to develop here. Foreign investors - diamond cutting and tea making enterprises highly value building a business in Primorye, ”he emphasized.

The Development Fund for the Far East (FRDV, a member of the VEB.RF group) presented opportunities for Indian companies to jointly implement investment projects in the Far East and the Arctic. Now the Fund is considering a wide range of cooperation with Indian companies in the implementation of projects in the field of development of the mineral resource base, agriculture, production of services and products, including those focused on the Asian market. As one of the possible areas of joint work, an initiative was presented to create a joint Russian-Indian fund, focused on supporting medium-sized investment projects.

In the evening, an Indian business delegation visited the KGK diamond cutting factory. Production was opened in 2017. The start to the enterprise was personally given by President of the Russian Federation Vladimir Putin. The volume of investment in the project is 575 million rubles.

Information provided by the press service of the Agency for the Far East to attract investment and export support

 

 

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