UP, Russia explore strategic investment opportunities in defence & aerospace

A dialogue between Invest UP officials and Russian representatives on Friday focused on deepening bilateral investment ties, particularly in trade and defence manufacturing while leveraging the state’s robust industrial ecosystem.

Shashank Chaudhary, Additional CEO of Invest UP, chaired a high-level virtual meeting with representatives from the Russian Trade Commissioner’s Office in Delhi, the President of the India-Russia Collaboration Chamber, and the Invest UP Russia Desk and Assocham UP chapter.

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The discussions underscored the vast potential for strategic partnerships, technology transfer, and aerospace ecosystem development under the Government of India’s ‘Make in India’ and Defence Industrial Corridor initiatives. Both sides expressed keen interest in fostering joint ventures and collaborative platforms to accelerate innovation and manufacturing excellence.

Chaudhary highlighted the Uttar Pradesh Investment Promotion Policy 2023, which offers a compelling framework for foreign direct investment (FDI) and foreign capital investment (FCI), especially for Fortune Global 500 and Fortune India 500 companies. He elaborated on the policy’s investor-centric benefits, including up to 80% front-end land subsidy, 100% stamp duty exemption and access to 33 sector-specific policies designed to streamline approvals and enhance ease of doing business.

The meeting reaffirmed Uttar Pradesh’s emergence as a global hub for defence and aerospace manufacturing, backed by world-class infrastructure, a skilled talent pool, and progressive industrial policies.