Five-CM Delegation Led By Piyush Goyal To Visit Russian Far East To Explore Investment Options In Resource Rich Region

A delegation of chief ministers of five BJP ruled states will be led by Commerce and Industry Minister Piyush Goyal on a visit to the Russian Far East this month (August), reports The Economic Times. The aim of the delegation is to pave the way for the expansion on Indian presence in the region.

Moreover, the delegation’s visit will serve as an important precursor to the visit of Prime Minister Narendra Modi to Vladivostok in September as the chief guest of the 20th edition of the Eastern Economic Forum.

The chief ministers who will accompanying Goyal will be Uttar Pradesh’s Yogi Adityanath, Gujarat’s Vijay Rupani, Maharashtra’s Devendra Fadnavis, Goa’s Pramod Sawant and Haryana’s Manohar Lal. A business delegation as well as a representative from the Assam government will also travel along with the delegation for the visit.

The Russian Far East is a resource-rich region which the Russian government is aiming to develop rapidly with the help of foreign investment; Indian companies could take advantage of large tax breaks in the region to employ many Indian workers in projects they set up there.

China is also already heavily involved in the Russian Far East, and it is likely that the Russian government wants to create a balance with Indian investment in the region so that they are not overwhelmed by Chinese influence.