President asks NRI to invest in India

By GovernanceToday
In Finance
May 11, 2015
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President-RussiaPresident Pranab Mukherjee has asked Russia’s 15,000-strong Indian community to bring their skills and capital to support the government’s initiatives to make the country a global manufacturing hub.

He also asked Indians community in Russia to contribute substantially to further enhance bilateral ties. President pointed out that despite friendly relations and the “closest institutional ties,” Russia accounts for only 1 per cent of India’s total international trade, at $6 billion last year (down from $10 billion in 2013 and $11 billion in 2012).

Addressing the Indians in Russia, Mukherjee said India-Russia relations have now touched almost every field of human endeavor and it involves cooperation in political, security, defence, trade, science and technology, education and culture.

Mr. Mukherjee stated, “Given the size of our economies, there is huge potential to enhance commercial and investment exchanges. It is a challenge for all of us to utilize synergies and new opportunities that are arising between the two economies.”

“All of you, as a repositories of unique information and insights about India and Russia, have an important role to play in propelling our economic ties to a higher trajectory,” he added.

The President said government of India has provided fresh impetus to India’s economic growth and development through new initiatives like ‘Make in India’, ‘ digital India’, ‘smart cities’, ‘model villages’ and ‘clean Ganga’ which seek to transform India.

“You can also acquaint enterprises in your adopted country of the new opportunities available in India. We need to forge partnerships in friendly nations like Russia to bring in ideas, innovations, technologies and investment. You have to facilitate the creation of such partnerships,” he said.

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