NEW DELHI | Aug 18, 2016: India has expressed interest in jointly developing coal fields and iron ore mines in Russia to bolster bilateral trade and economic ties.

An India-Russia working group on industrial cooperation and modernisation during its meeting here identified fields such as technology for production of CRGO steel in India, modernisation of steel manufacturing facilities in India and pharmaceutical industry for enhancing cooperation.

"The Indian side expressed interest in joint development of coal fields and iron ore mines in Russia. They agreed to exchange information on such areas having potential for cooperation," the Commerce and Industry Ministry said in a statement.

It also said that in the civil aviation sector, Russian side has declared its readiness to participate in the 'Make in India' programme to develop technological and production capabilities of India in this field and potential supplies of the jointly produced equipment to third countries.

As regards fertiliser sector, both sides expressed mutual interest in developing the long-term and mutually beneficial cooperation in the field of mineral fertilisers, it added.

Further India and Russia identified specific areas of cooperation in the field of mining and metallurgy.

"The Russian side reconfirmed their interest in receiving information about possible participation of Russian companies in the Delhi-Mumbai Industrial Corridor (DMIC)," it said.

Both sides have agreed to hold the next meeting of the working group in 2017 in Russia.

Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek led the Indian delegation to participate in the 5th meeting. The Russian delegation was headed by Alexander Potapov, Deputy Minister of Industry & Trade.

(Source: http://economictimes.indiatimes.com/)