Aims To Strengthen Bilateral Trade And Fast Track Investment Opportunities

New Delhi, 8 July 2016: INNOPROM, the largest annual international industrial trade fair of Russia, organised to showcase engineering innovations from across the world will kick-start on 10th of July, 2016 in Ekaterinburg. India is the Partner Country for INNOPROM 2016. With “Industrial Net” being the lead theme for the exhibition, the 4-day event aims to bring together all important components to improve efficacy under one roof. Ms Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry, is leading the delegation of over 110 Indian companies that will showcase India’s engineering prowess at the Russian engineering and technology event under the Brand India Engineering campaign. The India participation is being organised by EEPC India with branding support from the India Brand Equity Foundation (IBEF). India and Russia have set the goal of boosting bilateral trade to US$ 30 billion and mutual investment to US$ 15 billion by 2025.

Apart from large, medium and small Indian companies participating in the event, States like Maharashtra, Gujarat, Jharkhand, Rajasthan, Himachal Pradesh and Andhra Pradesh are also showcasing their strengths with Mr Devendra Fadnavis, Chief Minister of Maharashtra, Mr N Chandrababu Naidu, Chief Minister of Andhra Pradesh, Ms Vasundhara Raje, Chief Minister of Rajasthan leading the respective state delegations. In addition, Department of Heavy Industries, Department of Electronics and Information Technology, Ministry of Power, Ministry of Tourism, Ministry of New and Renewable Energy, National Institute of Design and Bureau of Indian Standards will also form part of the official delegation. Overall, the strong India participation is expected to highlight the strengths of India within the area of engineering and innovation at INNOPROM 2016.

On the occasion, Smt. Nirmala Sitharaman said, “Historically, Russia and India have enjoyed long-standing cultural and strategic ties. India’s partnership at INNOPROM provides a significant opportunity to sustain, expand and further develop the privileged strategic partnership between the two countries. Besides, the collaboration is in line with Prime Minister’s vision of making India a global destination for high-end engineering and reliable & quality products. INNOPROM‘16 will also offer India a platform to showcase “BRAND INDIA ENGINEERING” and “MAKE IN INDIA”.”

Mr. T. S. Bhasin, Chairman, EEPC India stated, “During INNOPROM 2016, Indian manufacturers and exporters of engineering products will exploit all possibilities to show the recent development in Indian engineering that could attract leading buyers from across the globe. Russia has now become the first country to have agreed to invest under the ‘Make in India’ umbrella in two key strategic sectors-nuclear and defence. INNOPROM is expected to add further significant value to the ‘Make in India’ campaign.”