The trade ties between India and Russia have strengthened over the past few years. To intensify the bond and widen the opportunities, Moscow has invited Indian companies to invest in the country as it has “great market” and is also an entrance to the European market.
“We have great potential for bilateral trade in such fields as smart and safe cities and high-technology machinery. It is a great moment for Indian companies to come and invest in Russia. It is not because most Western companies have existed but we have a lot in common,” Minister of Moscow Sergey Cheremin was cited as saying by ANI on Wednesday.
Cheremin, who is in India, also said Moscow and New Delhi have had a great partnership for 75 years.
How Indian companies’ investment in Russia will be beneficial?
The bilateral trade between India and Moscow has grown in recent times, Cheremin said, adding that more investment can be initiated into the high technology sector of both countries.
“We have great synergy because India is very advanced in software technology, ITs and cyber security, and that can bring synergy to both Moscow and New Delhi, or big metropolises, but all our citizens,” Cheremin elaborated.
He further said Russia is a “great market” and an “entrance’ to the European market”.
Cheremin, who is the Head of the Department for External Economic and International Relations of Moscow, launched Moscow’s pavilion at the 31st Convergence India and 9th Smart Cities India Expo.
“This is the first time we are participating in this event. We (Moscow) are one of the most dynamic cities. Recently, we were awarded by the United States Habitat as the number one city in the world for modernisation. This is because Moscow implemented digitalisation in all the municipal spheres. We use digital solutions in education and healthcare,” he said.
The Smart Cities India expo is a showcase of India’s emerging modernisation and developing landscape. The expo showcases the integration of transformative technologies with the key pillars of urban development.
With inputs from ANI
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