India as an economy is growing by leaps and bounds and other countries are quick to cash in on the opportunity by taking part in various profitable initiatives. The most recent country to enter the Indian market is Russia who is the latest one to show interest in fulfilling the growing needs of India’s defence sector by setting up a major shipbuilding project in Vizag.
From what the senior officials of Andhra Pradesh and USC are saying, a group of industries from Russia led by the United Shipbuilding Corporation (USC) is keen to set up the project and the decision of the same will be announced after securing the required approvals from the Russian government as well as the Central and State governments.
USC is fifth biggest shipbuilders in the world and this would be their first manufacturing hub in India.
Presently, the USC president Alexey L Rakhmanov is in Vizag to take part in a dialogue between the defence industries of the two countries and also complete the first round of investigations for the project. Talking to media, president Alexey lauded the support his team has been given by the AP government.