Sitharaman to lead Indian delegation to Russia

The Dollar Business Bureau

Nirmala Sitharaman, Minister of Commerce and Industry, is all set to lead the delegation of 110 Indian firms at Russia.

The Indian firms will display their engineering skills at the world’s biggest annual international trade fair ‘INNOPROM 2016,’ which will begin on July 10 in Ekaterinburg, Russia.

The theme of the four-day fair is ‘Industrial Net.’ The sim of the event is to bring together the significant components to enhance efficacy under one-roof, said the Ministry of Commerce and Industry.

Besides small, medium and large Indian firms taking part in the event, states like Gujarat, Maharashtra, Jharkhand, Himachal Pradesh, Rajasthan and Andhra Pradesh will also exhibit their industrial capabilities.

The state delegations of Andhra Pradesh, Maharashtra and Rajasthan will be led by their CM, respectively.

Centre’s departments including Tourism and Renewable Energy, Heavy Industries, Ministries of Power, Electronics and IT will also be a part of the delegation.

The strong participation of India will highlight the potential and strength of India in areas of innovation and engineering, said the Ministry.

The participation of India is an opportunity to sustain, expand and develop the strategic ties with other countries, said Sitharaman.

The event will also give a platform to showcase Make in India and Brand India Engineering, said the statement released by the Ministry of Commerce. It further revealed that Russia is the first country to express willingness to invest in ‘Make in India’ in two main sectors, which are defense and nuclear.

India and Russia have set a target to boost mutual investment to $15 billion and bilateral trade to $30 billion by 2025.

The trade between Russia and India for FY16 stood at $6.18 billion as against $6.34 billion logged in the preceding fiscal.