India, Russia's Astrakhan seek to boost trade, investment ties

MOSCOW: Seeking to boost mutual cooperation in trade and investment sectors between India and Russia's Astrakhan, a delegation from the region has expressed interest in enhancing engagement with Indian companies.

During a presentation on trade, business and investment opportunities in the Astrakhan region on November 19, oil, gas, agro-processing, ship building, renewable energy, aquaculture and logistics were identified as major areas with considerable potential for mutual collaboration, said an official statement from the mission.

Jointly organised by the Indian Embassy and the Government of Astrakhan region, the regional administration and investment agency of the region made presentations on the potential for mutual cooperation in trade and investment sectors.

A high-level official and business delegation from the region was led by Elina Polyanskaya, Vice-Chairman of the Astrakhan Government- Minister of Economic Development, the statement said.

Expressing interest in enhancing engagement with Indian companies, Polyanskaya laid emphasis on the importance of activation of the North-South transport corridor for enhancing bilateral trade and economic activities.

Indian Ambassador to Russia P S Raghavan highlighted the long standing partnership between Astrakhan and India, particularly Gujarat, which has a cooperation programme with Astrakhan since 2001.

He further underlined the importance of Astrakhan in boosting bilateral trade and economic activities due to its location on the Caspian Sea.