|New Delhi: The success story of Gujarat in offering an ideal destination for global investors has received strong consideration from Russian companies during the Vibrant Gujarat Global Summit roadshow organized by the Government of Gujarat in St. Petersburg and Moscow.
The roadshows were organized in collaboration with the Russian Chamber of Commerce where the delegation highlighted some of the investor friendly policies, the perfect economic ecosystem and single window clearance procedures that Gujarat offers, making it one of the most sought after investment destinations globally. Due to these factors, Gujarat was also ranked number 1 in “Ease of Doing Business” in 2015 amongst all states of India in a joint study by the Government of India and the World Bank.
Speaking at the roadshow, Ms. S Aparna said, “The sentiment among the Russian companies we met have been very positive and we are expecting to see a strong delegation from Russia during Vibrant Gujarat Global Summit 2017 in January. We are happy to see that not only the big players but small and micro companies are also aware about our success story and they are wanting to explore avenues of partnership with Gujarat. While bringing investments into Gujarat will remain one of the primary objectives, we are also exploring avenues of bilateral trade as well as sharing of knowledge.”
The delegation also met the senior representatives of Russian Direct Investment Fund (RDIF) which was created in 2011 under the leadership of the President and Prime Minister of Russia and manages sovereign wealth fund of USD 10 billion of reserved capital. Mr. Kishan Pandey, Deputy CEO, RDIF said, “We are well aware of opportunities in Gujarat and that it is one of the most progressive state in India. We will share the avenues of collaboration with our partners and will hope to bring them to Gujarat during the Summit in January 2017.”
As knowledge sharing being one of the key areas of collaboration and the Government of Gujarat keen on opening specialized universities in the field of Mines studies, Maritime studies and Organic Farming, the delegation also visited St. Petersburg Mines University which was established in 1773 and has notable alumni like Hon’ble President Mr. Vladimir Putin. The University already has a partnership with University of Delhi for scientific publications, research internships, participation in conferences and seminars.
Rector of St. Petersburg Mines University, Prof. Vladimir Litvinenko said, “We have very friendly relations with India and also share strategic partnership with some of the universities. However, I strongly feel that India has not been studied sufficiently from geological point of view and there is still a huge scope for exploring. As the state of Gujarat is keen on setting up a Mines University we will be more than happy to welcome their specialists, professors as well as students to our University for training as well as to study the facility and the technology that we have.” Experts from the University also discussed some of the areas of concern for the delegation in the mining sector like mining safety, mines management and value addition.
Subsequently, the delegation also met Russian Energy Agency (REA) which encouraged the delegation to set up a pilot solar project in Gujarat under the aegis of the agreement that was been signed between SECI (India) and REA in 2015.
Mr. Hemant Desai, Advisor and Mentor, Reliance Industries Ltd said, “Our visit to Russia has been very fruitful as we have received positive response from various Russian companies looking to invest in India especially in the focus sectors of our delegation like Energy, Chemicals & Petrochemicals, Innovation & Technology, Agro and Food Processing.”
Some of the other major companies and associations that the Government of Gujarat delegation met during their visit to Russia are Sibur Chemicals Ltd, Novotek, Kamaz Motors, Rice High Technologies, Neva Milk, New Plasma Technologies, Sberbank of Russia and National Dairy Producer’s Union to name a few.
Mr. Yatindra Sharma, MD, KHS Machinery Pvt Ltd said, “It was good to see that so many Russian companies are looking at India and more specifically at Gujarat as an ideal destination for investment. We are looking at exploring collaboration opportunities in various sectors, including innovation and technology where Russia has been one of the global leaders.”
Since the signing of “Declaration on the India-Russia Strategic Partnership” in October 2000 (during the visit of Hon’ble President Mr. Vladimir Putin to India), India-Russia ties have acquired a qualitatively new character with enhanced levels of cooperation in almost all areas of the bilateral relationship including political, security, trade and economy, defense, science, technology and culture. Some of the major Russian companies present in India currently are Sistema, Rosoboron export, Sberbank of Russia, VTB Bank, Gazprom and Sibur Chemicals. Meanwhile some major Indian companies in Russia are Tata chemicals ltd, Essar energy, Bharti Airtel, Reliance industries ltd, Cadila, M&M, Thermax, WIPRO, Jain irrigation and CIPLA.
(Except for the headline, this story has not been edited by Business Sandesh Group and is published from a syndicated feed.)
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