Suresh Prabhu visits KGK Group in Vladivostok
India
Russia, immense
growth
potential in the business
Union
Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, recently
visited the Eastern Economic Forum (EEF) in Vladivostok in Russia. The visit
began with a tour of the diamond cutting and polishing factory set up by the
KGK Group of India in Vladivostok. It has a manufacturing capacity of 150,000
carats of diamond per year and employees 400 people.
The
facility was inaugurated by Russian President, Vladimir Putin, last year. The
Commerce Minister had discussions with KGK Group, MD, Vithal Ramani, to explore
the potential and sourcing and value addition opportunities in the diamond
trade for India.
The
Minister also held bilateral meeting with Yury Trutnev, Deputy Prime Minister
of Russia. Discussions took place on areas of cooperation between India and
Russia to strengthen bilateral ties for economic growth. The Minister also
interacted with the Governors, Vice-Governors’ and Representatives of the
Russian Far East Regions of Primorye, Yakutia, Sakhalin, Amur, Magadan,
Kamchatka, and Khabarovsk.
Discussions
were held on possibilities of mutual cooperation in sectors like mining,
agriculture and tourism. Commerce Minister apprised them of the various
business and investment opportunities in India and the Government of India’s
initiatives to facilitate the same through Invest India.
He
invited the Governors of the Far East Regions to lead business delegations to
India and explore partnerships with Indian businesses. Minister, Suresh Prabhu,
also held discussions on enhancing bilateral trade and investment between India
and Russia with Denis Manturov, Minister of Industry and Trade of the Russian
Federation and Aysen Nikolayev, Governor of the Sakha Republic.
The
Commerce Minister also had an interaction with Dmitry Kobylkin, Minister of
Natural Resources and Environment of the Russian Federation. Issues of mutual
cooperation in areas of conservation of environment like saving the tiger and
elephant population, water cooperation and environmental sustainability were
discussed. The Russian Far East is the world’s biggest tiger habitat,
accounting of about 11% if the planets tiger population.
Suresh
Prabhu met with Maxim Oreshkin, Minister for Economic Development of the
Russian Federation. The two sides held talks about further strengthening
economic ties between India and Russia and the way forward in developing
synergies for mutual growth.
The Commerce Minister
addressed top CEOs at a reception of the All-Russia Business Association
"Delovaya Rossiya" (Business Russia), which is a Union of
next-generation Russian entrepreneurs operating mainly in the non-commodity and
processing sectors. Suresh Prabhu spoke about the immense growth potential in
the business ties of the two countries and the way to forge new partnerships
between Indian and Russian businesses.
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