Wed, Oct 26, 2016 | updated 02:44 PM IST

Delegation from Indian State of Gujarat to meet leading Russian companies, senior Government officials in St. Petersburg and Moscow

Updated: Sep 02, 2016 13:29 IST

New Delhi [India], Sep 2 (ANI-BusinessWireIndia): The Government of Gujarat (India) is organizing a Vibrant Gujarat road show in St. Petersburg and Moscow on September 5th and September 7th respectively as part of its delegation visit to Russia.

The road show is aimed to strengthen economic and social ties between the two countries and to promote Vibrant Gujarat Global Summit 2017.

With the theme of "Gujarat - Connecting India to World", the road show will feature various activities involving leading Russian companies, industry associations and government officials, strengthening the cause of development and promoting cooperation between Russia and the State of Gujarat. Led by S Aparna, Principal Secretary to the Chief Minister of Gujarat, delegation to Russia includes top officials from companies like Amul, Reliance Industries, Suzlon, Shell Hazira Pvt. Ltd. and KHS Machinery Pvt. Ltd.

In collaboration with the Russian Chamber of Commerce and Russian Direct Investment Fund, the delegation will highlight some of the investor friendly policies, the perfect economic ecosystem and single window clearance procedures that Gujarat offers, making it one of the most sought after investment destination globally. Gujarat was also ranked number one in "Ease of Doing Business" in 2015 amongst all states of India in a joint study by the Government of India and the World Bank.

Leader of the delegation, S Aparna, IAS, Principal Secretary to Chief Minister of Gujarat said, "Our delegation's objective is to strengthen relationship between Russia and India where Gujarat will play an important role by offering avenues across various sectors with its proactive governance and strong manufacturing base. With some mega projects planned in the state of Gujarat, Russia's expertise in areas like Manufacturing, Innovation and Technology, Engineering, Agro and Food Processing to name a few can play a significant role."

Relations with Russia are a key pillar of India's foreign policy and Russia has been a longstanding time-tested partner of India. Since the signing of "Declaration on the India-Russia Strategic Partnership" in October 2000 (during the visit of Vladimir Putin to India), India-Russia ties have acquired a qualitatively new character with enhanced levels of cooperation in almost all areas of the bilateral relationship including political, security, trade and economy, defense, science and technology and culture.

Some of the major Russian companies present in India currently are Sistema, Rosoboron export, Sberbank of Russia, VTB Bank, Gazprom and Sibur Chemicals. Meanwhile some major Indian companies in Russia are Tata chemicals ltd, Essar energy, Bharti Airtel, Reliance industries ltd, Cadila, Thermax, WIPRO, Jain irrigation and CIPLA.

Gujarat has also launched a scheme for assistance to Research and Development activities to set up new institutions and laboratories.

The Government of Gujarat is offering an attractive package of financial support and incentives for agro industrial projects to reputed companies with proven technical capability and track record to successfully conceive and implement agro industrial projects. The State Government will offer interest subsidy for first five years, from commencement of operations to Agro Industrial Units.

Gujarat Government has also announced a policy for mega and innovative projects from the automotive sector, which are required to fulfill the condition of investing in fixed assets exceeding Rs. 1,000 crore and providing jobs to 2,000 people. The eligible projects get benefits of sales tax incentives for 10 years.

All these factors will assist and benefit investors in strengthening their business prepositions and investments in India via Gujarat. The state of Gujarat is looking forward to host a Russian delegation of Government officials and businessmen at the Vibrant Gujarat Summit 2017.

The flagship event, Vibrant Gujarat Global Summit will enter its 8th edition being organized from 10-13 January 2017 at Mahatma Mandir, Gandhinagar, Gujarat, India. It is being inaugurated by the Prime Minister of India, Narendra Modi. The Summit will bring together Heads of States and Governments, Ministers, leaders from the corporate world, senior policy makers, heads of international institutions and academia from around the world to further the cause of development and promote cooperation. (ANI-BusinessWireIndia)