Boris Dubrovsky, Governor, Chelyabinsk Region, Russia, on Thursday invited Indian industry to explore the investment opportunities in the Chelyabinsk Region of Russia, which offers tax incentives to foreign investors.
Speaking at an interactive session organized by FICCI, he held out the assurance that the Chelyabinsk Region would cooperate with the Indian businesses and their investment will be fully protected.
Dubrovsky said that Indian investments in Russia were estimated at USD 8 billion and Russian investments in India totalled about USD 3 billion. The volume of trade needed to be scaled up, he said adding that 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.
Governor Dubrovsky said that the industrial development of the region was determined by the metallurgical, car-building, fuel-energy, construction, agricultural-industrial complexes. Besides, the region had rich and varied natural resources and qualified work resources. He added that the level of investment cooperation between the two countries had been extremely low and added that the Chelyabinsk Region had some ready potential investment projects which Indian industry could consider for investment.