New Delhi: Commerce and Industry Minister, Piyush Goyal has urged companies in both India and Russia to come together to discuss partnerships directly with each other, and to come up with concrete project proposals and substantial outcomes during a high-power delegation meet in Russia.
Goyal led a high-power delegation of Chief Ministers of Haryana, Gujarat, Uttar Pradesh and Goa and about 140 Indian companies to Vladivostok in Russia from August 11-13, 2019.
In the Plenary Session attended by close to 400 delegates, Russia’s Deputy Prime Minister, Yuri Trutnev and Commerce Minister of India underlined the need to diversify and deepen trade links in priority sectors, in order to meet the trade target of USD 30 billion by 2025.
About 200 Russian companies, Investment Agencies and Funds took part from the Russian side. Companies interacted separately with identified partners in an expanded B2B format and established contacts for further deliberations.
The event was the result of collaboration between Invest India and Federation of Indian Chambers of Commerce and Industry on the Indian side, and the Ministry for the Development of the Russian Far East and Arctic under the leadership of Alexander Kozlov and the Far East Investment and Export Promotion Agency on the Russian side.
In the Plenary session, MoUs were signed between regions of the Russian Far East and five states of India to expand and strengthen cooperation in the areas of trade, economy, investment, scientific and technical cooperation.
An MoU was signed between Amity University and Far East Federal University to enhance relations and develop academic and cultural exchange in the areas of education and research.
An agreement was also concluded on the establishment of the representative offices, the Centre for Yoga, and the Pushkin Centre for Russian Language and cultural studies. Another MoU on skill development was signed between National Skill Development Corporation and Far East Investment and Export Agency.
This visit also comes ahead of the 5th Eastern Economic Forum in September, during which Prime Minister Narendra Modi will be the guest of honour on his maiden visit to Vladivostok.