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Business Economy

'One stop shop' set up for Russian companies to invest in India: Prabhu

'One stop shop'  set up for Russian companies to invest in India: Prabhu

New Delhi, Oct 29 (UNI) To expand economic ties and move beyond buyer-seller relationship between India and Russia, New Delhi has set up a ‘one stop shop’ for Russian companies to invest in India called ‘Russia Plus’ which will fast track investment.

A Russian delegation on Monday called on Union Commerce Minister Suresh Prabhu here.

During the meeting, Mr Prabhu said all efforts should be made to narrow down the trade deficit. One of the major reasons for having low trade is due to trade barriers like banking, sanitary and phytosanitary issues, language barrier and visa issues.

He said the International North South Corridor (INSTC) is an important initiative taken by India, Russia and Iran to promote transportation cooperation and to enhance connectivity with central Asian countries.

The INSTC is the shortest multimodal transportation route linking the Indian Ocean and Persian Gulf via Iran to Russia and North Europe. The estimated capacity of the corridor is 20 to 30 million tonnes of goods per year and will reduce time and cost by 30 to 40 per cent.

He added that in the November 23 trilateral meeting on INSTC, all issues may be resolved in order to operationalise the route as early as possible.

Mr Prabhu said there was possibility for Russian investments in the Delhi-Mumbai industrial corridor, smart cities, railways, public transport, sanitation and low cost housing.

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Bajaj Allianz Life unveils country’s first ever Life Goals Preparedness Survey

18 Sep 2019 | 7:54 PM

Chandigarh, Sep 18 (UNI) Bajaj Allianz Life Insurance Company Limited, one of the leading private life insurance companies in the country, on Wednesday unveiled the first of its kind survey on country's Life Goals Preparedness Survey here which showcased the new age goals of Indian Millennials, as well as provided insights as to how young India is preparing to achieve its unconventional life goals.

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NALCO declares  record dividend payout of Rs 1072 73 crore for FY 2018-2019

NALCO declares record dividend payout of Rs 1072 73 crore for FY 2018-2019

18 Sep 2019 | 7:38 PM

Bhubaneswar, Sep 18 (UNI) The National Aluminium Company Limited (NALCO), the Navratna PSU under Ministry of Mines, has registered a record dividend payout of Rs 1072.

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Indian Bank board approves Allahabad Bank merger

18 Sep 2019 | 7:14 PM

Chennai, Sep 18 (UNI) The Board meeting of the public sector
on Wednesday gave its in principle approval for the merger of
Allahabad Bank with it.

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Balmer Lawrie and Company records net turnover of Rs 1,857crore

18 Sep 2019 | 6:56 PM

Kolkata, Sep 18 (UNI) Balmer Lawrie and Company Ltd.

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