On January 21, at his meeting with Chairman of Srei Infrastructure Finance Limited (India) Hemant Kanoria on the sidelines of the World Economic Forum in Davos, Tatarstan President Rustam Minnikhanov noted that Srei holding is one of the leading financial companies in India, as well as the only one investing in infrastructure projects.
Srei has been present in Russia since 2005. In 2018, the holding together with Vnesheconombank announced the launch of the Russian-Indian direct investment fund in the field of innovation and technology - Viman Capital. “I believe that this is one of the opportunities for our interaction,” Tatarstan President emphasized.
Minnikhanov added that Tatarstan attaches great importance to the development of cooperation with India as part of Russian-Indian relations. Tatarstan is ready to actively participate in expanding cooperation at the regional level, he said.
According to Tatarstan President, the products of such leading Tatarstan manufacturers as the Kazan Helicopter Plant and KAMAZ are well known in India. Cooperation has been established with Tatneft Oil Company and TAIF Production and Investment Company in the field of oil refining and petrochemicals. Indian goods are also widely represented on the regional market. “Unfortunately, there has been a slight decrease in our turnover recently. We hope that we will be able to reverse this trend to achieve sustainable growth,” Minnikhanov added.
Tatarstan President emphasized that today there is great potential for strengthening business ties with Indian partners. In particular, large-scale infrastructure projects will be implemented in the republic in the near future. Srei Holding has extensive experience in this field and Tatarstan is interested in developing mutually beneficial cooperation, Minnikhanov went on to say.
Then, they discussed various options for the participation of Srei holding in projects in the republic, including the construction of housing, roads, commercial real estate, as well as the development of a tourist-recreational and cultural cluster.