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The third meeting of the Russian-Indian working group on high-priority investment projects chaired by 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 was held on October 8, 2015.
According to Alexey Likhachev, “The Group is aimed to become an effective tool to achieve ambitious but quite attainable goal to increase accumulated mutual investments up to USD15 billion 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”.
The meeting was attended by the representatives of 17 largest Russian and Indian companies implementing joint investment projects, including 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.
The participants discussed the joint projects implementation and the key accomplishments, in particular SIBUR project of butyl-rubber production plant building in India; significant progress in establishing 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.
A number of new projects were presented at the meeting, including Russian-Indian project in the field of satellite navigation technologies based on GLONASS. The Indian delegation presented an initiative of the National Mineral Development Corporation on cooperation with Russian companies in the field of ferrous metallurgy.
Press-release at the official Ministry of Economic Development of the Russian Federation web-site