Russian investors invited to UP’s defence sector: Yogi

| | Lucknow
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Russian investors invited to UP’s defence sector: Yogi

Thursday, 15 August 2019 | PNS | Lucknow

Aiming to tap opportunities in food processing sector in Far East Russia, the Uttar Pradesh government has signed seven memorandums of understanding (MoUs) and an agreement with Russia in agriculture and food processing sectors. 

This was stated by Chief Minister Yogi Adityanath here on Wednesday.

“India’s technical expertise and skilled manpower can be used in Russia. The land in Far Eastern Russia is five million hectares, of which about 1.5 million hectares is available for cultivation. This region can be used for cultivation,” Yogi told reporters after his visit to Russia on Wednesday.

“About five million hectares of agricultural land is lying vacant in Russia’s Far East region. We aim to achieve $30 billion bilateral trade and $50 billion bilateral investment by 2025,” the Chief Minister said.

The MoUs have been signed in agriculture and food processing sectors between UP government and Zabaykalsky Krai region of Far East Russia. Another MoU has been signed between Amity University and Far East Federal University of Russia in education and research with the aim of increasing academic and cultural exchange.

Yogi said that India was the largest producer of foodgrains. “Russia can benefit from the expertise we have in vegetable, horticulture, agriculture, diamond processing and various other fields. Russia has abundant natural resources,” he said.

An MoU has been signed between National Skill Development and Export Agency and an agreement to set up a Centre for Yoga has also been inked. 

Yogi said that guided by Prime Minister Narendra Modi, a large Indian delegation got the opportunity to visit Vladivostok in Far East Russia. 

The delegation led by Union minister Piyush Goyal included chief ministers of five states, who explored business and investment opportunities in Russia. 

This 190-member delegation, including 145 entrepreneurs, interacted with 200 entrepreneurs from Russia and extensively discussed business opportunities. 

The Russian delegation led by its Deputy Prime Minister Yury Trutnev also had Governors of seven regions.

Yogi said that relations between India and Russia have been strengthened due to the great relationship between Prime Minister Modi and President Putin of Russia. 

A high-level programme will be held in Russia next month on behalf of Economic Forum, in which Prime Minister Narendra Modi will be the chief guest.

Yogi said that Russian entrepreneurs have also been invited to defence industrial corridor in Uttar Pradesh and a delegation will go to Russia and invite industrialists there.

“In the field of agriculture and food processing, there has been meaningful discussion on setting up of industry by Indian companies with Russian counterparts. Some companies have reached an agreement regarding investment and export in these areas,” Yogi disclosed.

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