India is the partner country for ‘INNOPROM 2016’, one of the largest annual international industrial trade fairs of Russia. Commerce and Industry Minister Nirmala Sitharaman will led a delegation which comprises of over 110 Indian companies that will showcase their engineering prowess at a trade fair in Russia.
The 4-day fair started from July 10 in Ekaterinburg. With ‘Industrial Net’ being the lead theme for the exhibition, the event aims to bring together all important components to improve efficacy under one roof.
Russia is the first country to have agreed to invest under the ‘Make in India’ umbrella in two key strategic sectors – nuclear and defense. Central government departments including Heavy Industries, Electronics and IT, Ministries of Power, Tourism and Renewable Energy, will also form part of the official delegation.
Apart from the 110 Indian companies, some states are also participating in the event. The states are:
- Maharashtra
- Gujarat
- Jharkhand
- Rajasthan
- Himachal Pradesh
- Andhra Pradesh
The Chief Ministers of Maharashtra, Andhra Pradesh and Rajasthan also led their respective state delegations.
India and Russia have set a goal of boosting bilateral trade to 30 billion dollars and mutual investment to 15 billion dollars by 2025. The two-way trade stood at 6.18 billion dollars last year.
Overall, the strong India participation is expected to highlight the strengths of India within the area of engineering and innovation.
ABOUT RUSSIA (Largest Country in the World):
- Capital – Moscow
- Currency – Russian Ruble
- President – Vladimir Putin
- PM – Dmitry Medvedev
ABOUT NIRMALA SITHARAMAN:
Post – Minister of State (Independent Charge) for the Ministry of Commerce & Industry, Minister of State for Finance and Corporate Affairs under the Ministry of Finance
Constituency – Rajya Shaba (Karnataka)