Russia’s Moscow Region is looking at the investment from India in sectors including infrastructure, auto industry, automotive components, pharmaceuticals and electronics, a high-ranking Russian official has said, according to The Economic Times.
“Leaders of India and Russia have excellent chemistry. The countries have a very warm relationship. We are looking for long term business partnerships between the Moscow Region and India,” Deputy Governor of the Moscow region Vadim Khromov told the Indian newspaper during a visit to the Asian country.
A six-member delegation, headed by Khromov, met with representatives of the Delhi government and business leaders in both Delhi and Mumbai during a four-day visit to India.
“We are looking to establish dialogues between investors and showcase the opportunities the Moscow Region has for the Indian businessmen. We are also exploring Russian investments in India,” he added.
The sectors that provide opportunities for India include the automotive industry, mechanical engineering, production of automotive components, pharmaceuticals, electronics, aerospace and biotechnology, chemical industry, logistics, agriculture, Khromov said.
Currently, there are 10 Indian companies who have successfully set up businesses in the Moscow Region in pharmaceuticals, real estate, chemicals, and packaging sectors.
“We have several tax incentives, infrastructure, low-interest rates in rubles to help with the fluctuating currency rates among others and support the Indian companies to set up business in the Moscow Region,” the official pointed out.
A pharmaceutical company with Indian capital has already been opened in the Moscow Region. It develops and produces genetically engineered biological products.
Another company with Indian capital, JodasExpoim LLC, is planning to launch the production of pharmaceutical substances in Voskresensk. The project is planned to be implemented until 2021.