India is interested in the development of coal and ore deposits in Russia

India has expressed interest in the joint development of coal deposits and the extraction of iron ore in Russia in order to strengthen bilateral trade and economic ties.

During the meeting of the India-Russia Working Group on Industrial Cooperation and Modernization, such areas of common interest as technologies for the production of CRGO steel in India, the modernization of steel production and service centers in India and the pharmaceutical industry were identified.

“The Indian side has expressed interest in joint development of coal deposits and iron ore mines in Russia. The parties agreed to exchange information on areas with potential for cooperation, ”the Indian Ministry of Trade and Industry said.

The ministry also said that in the civil aviation sector, the Russian side announced its readiness to take part in a modernization program in India to develop India's technological and production capabilities in this area, including potential deliveries of jointly produced equipment to third countries.

With regard to the fertilizer sector, both sides expressed mutual interest in developing long-term and mutually beneficial cooperation in the field of mineral fertilizers. In addition, India and Russia have identified specific areas of cooperation in the field of mining and metallurgy.

“The Russian side reaffirmed its interest in receiving information on the possible participation of Russian companies in the Delhi-Mumbai Industrial Corridor (DMIC),” the statement said. Both sides agreed to hold the next meeting of the working group in 2017 in Russia.

Ramesh Abhishek, Secretary of the Department of Industrial Policy and Development (PDDP), led the Indian delegation to the 5th meeting of the working group. The Russian delegation was headed by Alexander Potapov, Deputy Minister of Industry and Trade.