8 June 2019

India to Host an Eastern Economic Forum Field Session

On June 18, the Republic of India will host an Eastern Economic Forum field session. Deputy Prime Minister of the Russian Federation – Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev will preside over the meeting.

General Director of the Far East Investment and Export Agency (ANO API) Leonid Petukhov and Chandrajit Banerjee, the Director General of the Confederation of Indian Industry (CII) discussed the field session format on the SPIEF 2019 sidelines. 

“The Eastern Economic Forum field sessions have already become a regular format for holding exploratory meetings to identify key issues to be considered in greater detail in September in Vladivostok. Such sessions intensify the relations; enable narrow circle discussions for further confirmation and definition during the Forum. The next field session it to take place in Mumbai. Indian entrepreneurs will be able to attend several roundtables,” Leonid Petukhov emphasized.

According to the General Director of ANO API, the Indian track has become a key component of the Agency's international affairs. At the end of April, ANO API held 23 meetings with Indian companies and organizations as part of a weekly road show in New Delhi, Mumbai, and Calcutta. In mid-May, ANO API, the Embassy of the Republic of India to the Russian Federation, the Confederation of Indian Industry (CII) supported an Indian business delegation visit to Primorsky Krai. The delegation included representatives of Indian mining, logistics, energy, construction of hotel infrastructure, tea production companies. These representatives attended the plenary session ‘Opportunities, Conditions and Projects for Russia–India cooperation in the Far East of Russia’. They visited the Vladivostok Commercial Sea Port and learned about the enterprises – residents of ASEZ Nadezhdinskaya, including the diamond cutting plant of the Indian company KGK. At the end of May, the meeting with the Ambassador Extraordinary and Plenipotentiary of the Republic of India in the Russian Federation Venkatesh Varma Datla Bala discussed the cooperation with Indian diamond-cutting industry, mining and coal mining, agriculture, and IT-technologies.

To recap, five projects are being implemented with a total value of 78.5 billion roubles with Indian capital participation. The KGK Company has set up diamond cutting production in Vladivostok, and now, together with a Singaporean Sudima is preparing a project for a timber-processing factory. The JT Company has launched a tea-packing factory in Primorye Territory. Tata Power Company has acquired a license to develop the Krutogorovskoye field in Kamchatka Territory. Oil and gas industry also has investors from the Republic of India. The Indian company ONGC Videsh limited owns 20% of Sakhalin-1.