Davos 2024: Moscow Minister asserts 'great time' for Indian companies to invest in Russia

Davos 2024: Cheremin highlighted the growing bilateral trade and the potential for increased investment, particularly in the high-technology sector of both nations.

Author
Prateek Gautam
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Courtesy: ANI

Davos 2024: Moscow City Minister Sergey Cheremin emphasized the robust partnership between India and Russia, heralding it as a propitious period for Indian companies to venture into the Russian market. Cheremin, Head of the Department for External Economic and International Relations of Moscow, highlighted the growing bilateral trade and the potential for increased investment, particularly in the high-technology sector of both nations.

Moscow Pavilion Launch

Cheremin, currently visiting India, inaugurated Moscow's pavilion at the 31st Convergence India and 9th Smart Cities India Expo. Expressing Moscow's dynamism and recognition as a leading city for modernization, he underscored the city's commitment to digitalization in various municipal spheres, including education and healthcare.

Collaboration in Smart Cities Development

During his conversation with ANI, Cheremin explored opportunities for collaboration between Indian cities and Moscow in developing smart cities. He emphasized the potential synergy between India's advancements in software technology, IT, and cybersecurity with Moscow and New Delhi's aspirations for smart and safe urban environments.

India's Smart Cities Mission

Cheremin praised India's progress in software technology and IT, envisioning the collaboration as mutually beneficial for both metropolises. He encouraged leveraging India's expertise to enhance the success of Moscow's digital initiatives and expressed optimism about the positive impact on citizens of both cities.

Russia as a Lucrative Market

Highlighting the enduring partnership of 75 years between India and Russia, Cheremin provided compelling reasons for Indian companies to invest in Moscow. He positioned Russia not only as a significant market but also as a gateway to the broader European market. Cheremin emphasized the shared values and potential for collaboration, extending an invitation for Indian businesses to explore investment opportunities in Russia.

Expo for Emerging Modernisation

The 31st Convergence India and 9th Smart Cities India Expo serve as a platform to showcase India's evolving modernization and developmental landscape. The expo highlights the integration of transformative technologies with key aspects of urban development, offering a glimpse into the future of smart cities.

As India and Russia strengthen their economic ties, the call for Indian companies to invest in Moscow reflects the shared commitment to fostering innovation, technology, and collaborative urban development initiatives.