India expresses interest to develop coal fields in Russia

India expresses interest to develop coal fields in Russia

Russia has declared its readiness to take part in 'Make in India' prog.

The Dollar Business Bureau 

In order to strengthen bilateral trade and economic relations with Russia, India has shown keenness to develop iron ore mines and coal fields in that country. 

A working group of India and Russia meeting in New Delhi identified areas such as technology for CRGO steel production in India, modernisation of steel production facilities and pharma industry for strengthening cooperation. 

“The Indian side expressed interest in the joint development of coal fields and iron ore mines in Russia. They agreed to exchange information on such areas having potential for cooperation,” the Ministry of Commerce and Industry said in a statement. 

In the civil aviation sector, Russia has shown its preparedness to take part in the 'Make in India' programme helping India to develop production and technological capabilities and possible supplies of the jointly manufactured equipment to third nations, it added.

With regard to the fertiliser sector, the two sides showed mutual interest in creating long-term as well as mutually beneficial cooperation in the area of mineral fertilisers, the statement said. Both the countries identified areas for cooperation in mining and metallurgy. 

“The Russian group reconfirmed their keenness in getting information related to the possible participation from Russian firms in the Delhi-Mumbai Industrial Corridor (DMIC),” the statement said. 

Both the countries decided to have the next working group meeting in Russia next year. 

Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP) led the delegation from Indian side while the Russian side was led by Alexander Potapov, Deputy Minister of Industry & Trade. 

The Dollar Business Bureau - Aug 19, 2016 12:00 IST