The Governor of Chelyabinsk Region in Russia Boris Dubrovsky today invited Indian industry to explore the investment opportunities in the Chelyabinsk Region which offers tax incentives to foreign investors, Bureaucracy Today has learnt.
Speaking at an interactive session organized by FICCI, Dubrovsky assured that the Chelyabinsk Region would cooperate with the Indian businesses and their investment will be fully protected.
He added that the level of investment cooperation between the two countries had been extremely low and the Chelyabinsk Region had some ready potential investment projects which Indian industry could consider for investment.
There was a need to promote new opportunities for economic and trade cooperation and promote the International North-South Transport Corridor, which would reduce the transit time by almost 40 per cent between India and Russia, said the Governor.
Indian investments in Russia are estimated at US$ 8 billion and Russian investments in India totalled about US$ 3 billion.
However, the increased interaction between business delegations from both countries underlines that the industry of India and Russia are eager to forge partnerships and alliances and are exploring new areas of cooperation.
Experts told Bureaucracy Today there is a need to utilize the North-South Transport Corridor for fast movement of goods. The corridor will reduce the transit time considerably and overcome logistics issue.