20-Sep-2013
Russia has agreed to hold a review on allowing import of buffalo meat and egg powder from India next month and has assured a satisfactory resolution of the issue.
The issue, discussed between Commerce and Industry Minister Anand Sharma and his Russian counterpart Denis Manturov in St Petersberg, is important as Russia is a large importer of bovine meat and India is one to the top exporters of the same.
Russia recently lifted a temporary ban on import of rice/rice cereals and peanuts that was placed after traces of khapra beetle was found in some rice and peanuts consignments.
Sharma pressed for regulatory simplification for supply of Indian generic medicines to Russia. He said that as Indian pharma companies are keen to establish manufacturing facilities in Russia, it is imperative that the Government addresses their concerns in an expeditious manner.
Both sides agreed that that there was considerable scope of cooperation in modernisation of steel manufacturing facilities. Sharma was informed that Russian companies in power sector are keen to participate in modernisation of old power plants and heavy engineering units based in India.
While acknowledging India’s efforts in opening up the economy further, the Russian Minister said it was important to maintain regulatory certainty and stability in policy regime.
He was alluding to the problems faced by Russian telecom company Sistema in India after the Supreme Court cancelled its licences as a fallout of the 2G scam.
Source:- thehindubusinessline.com
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