Speaking ahead of TIME (Tatarstan-India Mutual Efficiency) Forum in the Kazan, Minnikhanov said Tatarstan is looking to increase exports of automobiles, helicopters, ships, and petrochemical products, identifying India as an important market.
“We are interested in expanding cooperation with Indian partners in such areas as electronics, pharmaceuticals, light industry, IT, and high technology,” he said. “As for investment projects, we currently do not have major joint initiatives with Indian companies, but we are open to dialogue and invite Indian businesses to consider Tatarstan as a gateway to the Russian market.”
Minnikhanov also said Kazan is one of Russia’s leading centers of science and education. “There are currently 1,167 Indian students studying at our universities,” he added. “We see great potential in developing academic and scientific cooperation.”
India is opening a consulate in Kazan to improve visa and consular services, provide commercial support, and expand its regional outreach in Tatarstan.
“We have very deep and extensive potential to cooperate; no wonder when we decided to expand our diplomatic presence in Russia, Kazan was one of the first places to choose for the consulate,” Indian Ambassador to Russia Vinay Kumar said at the forum on Wednesday.Over 50 representatives of government and industry took part in TIME Forum on October 8-9. The agenda covers cooperation between India and Tatarstan in petrochemicals, IT, finance, medicine, education, labor market, and investments. Separate business-to-business meetings are also being held on its sidelines.Tatarstan is home to large companies such as oil major Taneft and its Taneco refinery, truck and heavy vehicle manufacturer Kamaz, as well as IT industry. Russia is looking to position the republic as a hub for new logistics routes, mutual investments, and digital solutions.
Kumar said he believed hinterlands were “engines of growth,” and referred to that the fast-growing southern Indian states of Andhra Pradesh and Telangana were represented at the Kazan forum.
At the forum, Ivan Nosov, CEO of Sberbank India, underlined the significance of manpower exports from the South Asian country. “Countries that employ Indian workers are increasingly recognizing the high standards of qualifications in India,” he said. “Over 15 million Indians work abroad, and in the past year, the number of Indian workers in Russia has surged about tenfold to approximately 40,000.”
Nosov noted that the volume of goods and services India exports globally exceeds $450 billion, of which only $5 billion worth of goods is imported to Russia, highlighting the existing opportunity to expand trade. “Many in Russia are unaware of India’s technological capabilities and modern manufacturing facilities. This presents an opportunity for Indian businesses to consider Russia as a viable market,” he added.
Earlier this year, India’s Ambassador to Russia, Vinay Kumar, confirmed that New Delhi and Moscow are actively negotiating a Migration and Mobility Partnership Agreement.
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