Great Time For Indian Companies To Invest In Russia, Says Moscow Minister

India and Russia enjoy a "great partnership," and it is a great time for Indian companies to invest in the Russian market, Minister of Moscow City, Sergey Cheremin said on Wednesday.

Speaking to news agency ANI, Mr Cheremin, who is in India, said the bilateral trade between both countries has grown in recent times and more investment can be initiated into the high technology sector of both countries

Mr Cheremin, who is the Head of the Department for External Economic and International Relations of Moscow, also launched Moscow's pavilion at the 31st Convergence India and 9th Smart Cities India Expo.

"This is the first time we are participating in this event. We (Moscow) are one of the most dynamic cities. Recently, we were awarded by the United States Habitat as the number one city in the world for modernization. This is because Moscow implemented digitalisation in all the municipal spheres. We use digital solutions in education and healthcare," he said.

He further elaborated on how Indian cities and Moscow can collaborate in the development of smart cities and the success of India's smart cities mission.

"We have great synergy because India is very advanced in software technology, ITs and cyber security, and that can bring synergy to both Moscow and New Delhi, or big metropolises, but all our citizens," he asserted.

Highlighting the long ties between the two countries, Mr Cheremin reasoned why Indian companies should invest in Moscow, saying Russia is a great market and an 'entrance' to the European market.

"For 75 years, we have had a great partnership between the two countries. We have great potential for bilateral trade in such fields as smart and safe cities and high-technology machinery. It is a great moment for Indian companies to come and invest in Russia. It is not because most Western companies have existed but we have a lot in common. Moreover, Russia is a great market and it is also an entrance to the European market," he further added.

The Smart Cities India expo is a showcase of India's emerging modernisation and developing landscape. The expo showcases the integration of transformative technologies with the key pillars of urban development.

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