1. India Inc to meet Russian counterparts

India Inc to meet Russian counterparts

The who’s who of Indian industry, including Anil Ambani (chairman, Reliance Group), Sukaran Singh (Tata Advanced Systems), Baba Kalyani (CMD, Bharat Forge)...

By: | New Delhi | Published: December 23, 2015 12:44 AM

The who’s who of Indian industry, including Anil Ambani (chairman, Reliance Group), Sukaran Singh (Tata Advanced Systems), Baba Kalyani (CMD, Bharat Forge), Ravi Ruia (vice-chairman, Essar), Dinesh Kumar Saraf (CMD, ONGC), Narendra K Verma (MD, ONGC Videsh) and U P Singh (CMD, Oil India), will be in Moscow later this week for an Indo-Russia CEO Summit.

A group of 10 CEOs will be accompanying Prime Minister Narendra Modi for the annual Indo-Russia on Wednesday, to give a much needed push to trade and investment ties. This will be Modi’s first state visit to Russia.

B Ashok (chairman, Indian Oil Corporation), Adi Godrej (chairman, Godrej Group) and Jethabhai Patel (chairman, Gujarat Cooperative Milk Marketing Federation) are also part of the group thatg will be meeting with top industry captains of from Russia.

The Russian side will have captains of industry including, Alekperov Vagit Yusufovich (president, PJSC Lukoil), Gurko Alexander Oelgovich (president, management board chairman, NP GLONASS), Yevtushenkov Vladimir Ptrovich (board chairman,board strategy committee chairman, AFK Sistema), Konov Dmitriy Vladimirovich (president, PJSC Sibur).

According to officials, the CEOs’ meeting is very important for both sides as a lot of Russian companies are interested to be part of Modi’s ‘Make In India’ initiative, and are seeking joint ventures with Indian firms in various sectors for the joint manufacturing of components and parts for both civil and military programmes in India.

During his meeting with Putin, on the sidelines of the BRICS summit in July, Modi expressed a desire to visit Astrakhan and even suggested the coming India-Russia summit be held there. Astrakhan is Russia’s gateway to the Caspian Sea, with its vast oil reserves and sturgeon stocks.

It was during the annual summit in 2014, when the two sides announced a ‘Druzhba-Dosti’c vision. Leaders of both sides recognised that it was time to significantly broad-base the existing bilateral cooperation. They agreed that strengthening economic relations would be an important pillar of the strategic partnership, Russian ambassador to India, Alexander Kadakin said recently.

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