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Russia and India to expand cooperation in diamond sector in Vladivostok

August 12, 2019

Diamond sector representatives accompanying Gujarat Chief Minister Vijay Rupani to Vladivostok in Russia could sign two MOUs related to sourcing of rough diamonds and setting up of diamond processing units there.

Rupani joins chief ministers of Uttar Pradesh, Haryana, Maharashtra and Goa as part of a delegation led by Commerce and Industry Minister Piyush Goyal to Russia. The meetings are held in Vladivostok in Russia’s Far East region from 11 to 13 August. Gujarat delegation of 28 members represents sectors such as diamond, petroleum and pharmaceutical, according to Business Today report.

Diamond sector industries will sign two MOUs in the presence of Rupani during the three-day visit to Vladivostok in Russia. One MOU relates to sourcing of rough diamond between Russia's Yukutia region and Gujarat while another MOU relates to diamond industry in Gujarat helping set up diamond cutting and processing units at Primorsky Krain region of Russia, the paper quotes an official release.

Indian delegation to Vladivostok includes more than 125 representatives from business stakeholders, who will interact with Russian counterparts on opportunities in the mining and processing of diamond and rare metals, railways, agriculture, food processing, oil and gas, coal and power, and pharma. The aim is to explore investment opportunities and strike close partnerships between India and the Far East provinces of Russia.

Source: Business Today