Commerce and Industry Minister Piyush Goyal is set to meet with Russian counterpart Anton Alikhanov on Thursday in New Delhi. The primary focus of their discussions will be to enhance economic cooperation and increase bilateral trade. Both nations have established a goal of reaching $100 billion in trade by the year 2030.
NICDC Seeks Collaboration with Russian Firms
The National Industrial Corridor Development Corporation Ltd (NICDC) of India is actively participating in an event aimed at fostering connections with Russian companies, technology providers, and investors. NICDC views this as a strategic opportunity to present India’s industrial corridors as appealing options for long-term manufacturing investments. The corporation emphasized its commitment to showcasing these corridors as key destinations for potential business partnerships.
The four developed industrial smart cities are — Dholera Special Investment Region (Gujarat), Shendra-Bidkin Industrial Area (AURIC) in Maharashtra, Integrated Industrial Township Greater Noida (Uttar Pradesh) and Integrated Industrial Township Vikram Udyogpuri (Madhya Pradesh). Together, these projects cover approximately 19,878 hectares, with an estimated investment potential of around ₹ 5.35 lakh crore ($56.6 billion) and employment potential of nearly 1.4 million jobs, the statement said. So far, NICDC has allocated 469 industrial plots (in completed and upcoming projects) covering approximately 2,109 hectares, representing associated investment potential of around ₹ 2.21 lakh crore ($23.4 billion) and employment potential of approximately 129,000 persons, the statement said.
NICDC’s engagement with Moscow has also covered identification of Moscow-based companies interested in investing in India, B2B matchmaking, business missions, exchange of experience in industrial clusters and Special Economic Zones, and the possibility of establishing a Russian industrial cluster within an NICDC city, it said. These cities are being developed as investment-ready, plug-and-play manufacturing ecosystems, with serviced industrial land, reliable power, water and wastewater systems, ICT infrastructure and multimodal connectivity to highways, railways, ports and airports, it said.
