On the eve of the 5th Eastern Economic Forum, more than 130 India companies arrive in the Far East on a business mission

14 August 2019

On the eve of the 5th Eastern Economic Forum, more than 130 India companies arrive in the Far East on a business mission

Representatives of India’s business delegation headed by the country’s Minister for Trade and Industry Piyush Goyal have visited the Far East in the run up to the 5th Eastern Economic Forum in Vladivostok on 4–6 September.

The delegation included the heads of four Indian states: Chief Minister of Haryana Manohar Lal Khattar, Chief Minister of Gujarat Rupani Vijai, Chief Minister of Uttar Pradesh Yogi Adityanath, Chief Minister of Goa Savant Pramod, Ambassador of India to the Russian Federation D.B. Varma Venkatesh and representatives of Indian government bodies and over 130 companies.

From the Russian side, Deputy Prime Minister of Russia and Presidential Envoy to the Far East Yuri Trutnev, RF Minister for Development of the Far East and the Arctic Alexander Kozlov, heads of far eastern regions, representatives of federal executive authorities and more than 120 companies.

“We anticipate the visit by Indian Prime Minister Narendra Modi at the EEF. I am sure that contacts between the leaders of our countries will improve the overall investment climate and convince businessmen that investments are safe. The talks in the first half of today aroused interest in co-operation in the power, agriculture, timber, infrastructure, hi-tech and IT sectors. I am convinced that regular contacts between representatives of business and the heads of our countries’ regions will make it possible to advance to specific projects in the given spheres and find new ones,” – Yuri Trutnev stressed.

India’s Minister for Trade and Industry Piyush Goyal stated that the delegation to the Far East was “the biggest we have ever sent to any country”. “This reflects the importance we attach to Russian-Indian co-operation. Our visit is indicative of India’s consistent interest in the Far East at the governmental and regional levels. We attach major significance to development of trade and investment co-operation. We have a common goal of reaching USD 30 bn in our bilateral trade turnover. We also plan to increase India’s investments in Russia,” – he added.

The visit by the business mission included thematic sessions where the participants discussed the prospects for co-operation in such areas as electric power, the mining industry, medicine, forestry, agriculture, education and real estate. The heads of the far eastern regions presented potential spheres for Russian-Indian co-operation in the Far East.

The plenary session culminated in the heads of the far eastern regions and Indian states signing a memorandum of mutual understanding in such areas as machine-building, oil&gas, agriculture, the diamond industry and tourism. The discussion of Russian-Indian co-operation will be continued at the Easter Economic Forum 2019.

An official Indian delegation headed by the country Prime Minister Narendra Modi is expected at EEF 2019. A “Russia-India” dialogue is planned as part of the Forum’s business programme, to be attended by representatives from both countries. In addition, India will have a national stand at the EEF venue to present the country’s economic, industrial, tourism and cultural potential.

On the eve of the 5th Eastern Economic Forum, more than 130 India companies arrive in the Far East on a business mission

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