India may become a partner country of INNOPROM-2016 industrial fair in Yekaterinburg

After the exhibition this summer India will decide on whether to become a partner country of the industrial trade fair INNOPROM in Sverdlovsk region, the largest event of the type in Russia, in 2016.

After the exhibition this summer India will decide on whether to become a partner country of the industrial trade fair INNOPROM in Sverdlovsk region, the largest event of the type in Russia, in 2016.

This was announced by the governor of Sverdlovsk region Evgeny Kuyvashev after his talks with the Ambassador of India to the Russian Federation Pundi Srinivasan Raghavan.

«India is our important strategic partner, every year we are strengthening our relationship. During his trip in December 2014 the President of our country invited the Indian partners to become a partner country of INNOPROM. According to Mr Ambassador, this topic is being actively discussed in the government. Apparently, after INNOPROM 2015 the Indian side will inform us about their decision,» said the head of the region.

«The leaders of our countries have agreed that the strengthening of economic cooperation is an important part of our strategic partnership. We do a lot to link together the representatives of our businesses. The problem is that the businessmen in Russia and India don't know about all the possibilities of each other. INNOPROM is another opportunity to bring Russian and Indian companies together,» Mr. Raghavan said.

Governor Kuyvashev noted the positive examples of economic cooperation between Sverdlovsk region and India. In particular, Uralmash heavy machine building plant is involved in the implementation of the Russian-Indian project for the construction of additional nuclear power units in southern India, supplying walking excavators and mining equipment. Other companies that successfully operate in the Indian market are Uralvagonzavod machine building company, VSMPO-AVISMA metal-producing company and others.

At the end of 2014, India ranked 12th among the countries - trade partners of the Sverdlovsk region. In 2014 bilateral trade volume exceeded $260 million. Of these, 230 million accounted for exports, the main items of which are engineering and metallurgical products. The main export items of India to Middle Urals are ferrous metals and derivatives products, pharmaceutical products.

According to Ambassador Raghavan, India and Russia are planning to increase the bilateral trade volume by four or five times. Being Russia's manufacturing hub, Sverdlovsk region plays an important role in this challenge, the ambassador said. In addition, India is interested in participation of Ural enterprises in the realization of cooperation projects in his country.

A separate topic for discussion was the partnership in education field. The matter in question was the young Indians studying in the Ural universities, implementing programs for youth and teacher exchanges, joint research. The ambassador noted the high level of educational institutions of the Urals. «Today we have a good opportunity to expand cooperation in this field: the Ural Federal University is actively involved in the creation of the Indo-Russian Association of Universities. We hope that in May, the President of India Pranab Kumar Mukherjee, while in Moscow, will launch this project, which in turn would trigger the activation of partnership,» he said.

INNOPROM is the large-scale International Industrial Exhibition, which is held in Yekaterinburg since 2010 and is dedicated to innovative developments and projects. The theme of the exhibition this year will be the production efficiency. For the first time in the history of the exhibition INNOPROM has a partner country - China.

«China has booked 7.5 thousand square meters of exhibition space at INNOPROM-2015. By the way, the 3-thousand people delegation of that country is going to bring us a very interesting exposition. It will represent the most promising sectors of Chinese industry, such as aircraft building, manufacturing technology for high-speed rail, said the former First Deputy Prime Minister of the Sverdlovsk Region — currently the Minister of Investment and Development Alexey Orlov.  In addition, China is preparing a large-scale cultural program for the exhibition days. In particular, now the possibility of a famous Chinese musician playing together with our Philharmonic Orchestra is being considered».

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