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Alexey Likhachev: The Goal of Mutual Investments Increasing with India up to 15 Billion US Dollar by 2025 is Quite Attainable

08.10.15

The third meeting of Russian-Indian working group on high-priority investment projects was held under the chairmanship of Alexey Likhachev, the first deputy of the Minister of Economic Development of Russia, and Amitabh Kant, the deputy of the Minister of Commerce and Industry of India.

The representatives of 17 largest Russian and Indian companies that realize common investment projects took part in this meeting. Among them one can name Sistema, KAMAZ, Acron Group, JSC United Aircraft Corporation (UAC), “Concern Tractor Plants” (Machinery & Industrial Group N.V.) as well as National Mineral Development Corporation and Heavy Engineering Company.

Alexey Likhachev noted that the significance of the working group was more and more obvious from year to year. “The Group is destined to become an effective instrument of achieving ambitious but quite attainable goal to increase accumulated mutual investments up to 15 billion US dollar from each side by 2025. This goal is determined in our joint declaration “Drujba-Dosti” following the results of the last Russian-Indian Summit in 2014,” he said.

During the meeting the parties discussed the realization of the joint projects and the key accomplishments, among them are SIBUR project of butyl-rubber production plant building in India; significant progress in creating a joint investment fund initiated by Rusnano; the systematic development of Dauria Aerospace and Aniara Communications project of the GEO deployment of telecommunication devices NextStar. The participants of the working group marked the ways to solve the issues that prevent a continuous development of joint ventures. The parties agreed to support a successful entrance to Indian market of JSC United Aircraft Corporation (UAC) production, to pay due attention to Sistema’s offer of cooperation within Indian programs smart city and safe bus, and supported KAMAZ initiative of taking part in specialized shows and conventions held in India.

To the meeting’s participants there were presented various new projects, including Russian-Indian project in the field of satellite navigation technologies based on GLONASS. Indian colleagues presented an initiative of the National Mineral Development Corporation regarding the cooperation with Russian companies in the field of ferrous metallurgy.

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