India-Russia Meet on Priority Investment Projects

4th meeting of the India-Russia Working Group on Priority Investment Projects was held in New Delhi.

The Indian delegation was headed by Secretary, IPP. The Russian delegation was led by Mr Alexander TSYBULKSIY, Deputy Minister for Economic Development, Russian.

The Working Group on Priority Investment Project was set up in 2013 by the two countries with the objective to encourage and promote Indo-Russian Projects.

The two sides discussed on the existing as well as proposed projects in two countries in sectors like chemical, automobiles, engineering, aviation, electronics, petroleum, pharmaceutical, highlighting importance and the issues for facilitating the projects.

The investment opportunities in Delhi-Mumbai Industrial Corridor Project for the Russian companies were also highlighted by the Indian side.

Both sides recommended to the Russian and Indian companies to formulate and prepare a road map on the identified priority investment projects.

Both sides have agreed to hold the next meeting of the Working Group in 2017 in Russian Federation.