India is a partner country for the four-day event with the aim of strengthening bilateral trade and fast track investment opportunities.
Commerce Minister Nirmala Sitharaman will lead a delegation of over 110 Indian companies to showcase India’s engineering prowess under the ‘Brand India Engineering’ campaign at INNOPROM 2016, the largest annual international industrial trade fair of Russia, starting July 10.
India is a partner country for the four-day event which has “Industrial Net” as the main theme this year.
Sitharaman said that India has become a partner of the event with the aim of strengthening bilateral trade and fast track investment opportunities.
“Historically, Russia and India have enjoyed long-standing cultural and strategic ties. India’s partnership at INNOPROM provides a significant opportunity to sustain, expand and further develop the privileged strategic partnership between the two countries. Besides, the collaboration is in line with Prime Minister’s vision of making India a global destination for high-end engineering and reliable and quality products,” she said in a PIB release.
“INNOPROM 2016 16 will also offer India a platform to showcase ‘Brand India Engineering’ and ‘Make In India’ initiatives,” she added.
The India participation in the fair is being organised by EEPC India with branding support from the India Brand Equity Foundation (IBEF).
India and Russia have set the goal of boosting bilateral trade to US$ 30 billion and mutual investment to US$ 15 billion by 2025.
Apart from large, medium and small Indian companies participating in the event, states like Maharashtra, Gujarat, Jharkhand, Rajasthan, Himachal Pradesh and Andhra Pradesh are also showcasing their strengths with Devendra Fadnavis, Chief Minister of Maharashtra, N Chandrababu Naidu, Chief Minister of Andhra Pradesh, Vasundhara Raje, Chief Minister of Rajasthan leading the respective state delegations.
In addition, Department of Heavy Industries, Department of Electronics and Information Technology, Ministry of Power, Ministry of Tourism, Ministry of New and Renewable Energy, National Institute of Design and Bureau of Indian Standards will also form part of the official delegation.
TS Bhasin, chairman, EEPC India said, “During INNOPROM 2016, Indian manufacturers and exporters of engineering products will exploit all possibilities to show the recent development in Indian engineering that could attract leading buyers from across the globe. Russia has now become the first country to have agreed to invest under the ‘Make in India’ umbrella in two key strategic sectors-nuclear and defence. INNOPROM is expected to add further significant value to the ‘Make in India’ campaign.”