Ahmedabad: Seeking investments into the Tomsk region, a business delegation from Russia Tuesday expressed interest to participate in the development of smart cities in India.
During a business-to-business meeting with Gujarat-based companies here, both the sides deliberated upon ways to increase investments.
The Russian delegation of around 10 companies of Tomsk region was led by Ildar Batkaev, Advisor, Trade Representation of Russia in India and Aleksander Beliaev, Director, Tomsk Chamber of Commerce.
Batkaev expressed hope to see more business between India and Russia, he told reporters here.
"Looking at the growth of Gujarat in manufacturing sector, there is huge possibility that Russian firms invest here in future.
"Likewise, Russia too offers huge potential for Gujarat-based medium and small firms, which can expand their operations by collaborating with Russian firms," Batkaev said.
He added that Russian firms can play a major role in various government initiated projects, such as development of 100 smart cities.
"There is a need to increase bilateral trade between India and Russia. We are confident that the new government at the Centre will play a crucial role in it.
"Russian firms are keen to participate in the project of 100 smart cities. We can help these cities to be more energy efficient," Batkaev added.
Smart cities will have self-sustainable habitats with minimal pollution levels, maximum recycling, optimised energy supplies and efficient public transportation.
On the occasion, Cadila Pharmaceuticals's Senior Vice President Bhaswat Chakraborty expressed concerns over low-paced trade between the countries.
"Bilateral trade between the two countries is still far below potential. Major reason behind the sluggish growth is lack of knowledge about business potential and lack of understanding between private firms of both the countries," Chakraborty said.
According to him, Russian firms can train Indian firms in sectors like pharma, energy, IT and education.
"Though there are many big companies like ONGC Videsh and Tata Motors expanding their businesses in Russia, we are yet to tap the true potential of small and medium firms, who can train us in many sectors and increase the value of our products," he told media-persons during the interaction.
According to a report, Russia?s Tomsk region is known for its pharmaceuticals and chemical industries.
The bilateral trade between the countries stood at USD 6.01 billion in 2013-14. India has received only USD 1 billion during April 2000 and February 2015 from that nation.
