Tatarstan Looking To Attract More Indian Investment As Indian Consulate Plans to Open In Kazan

The Russian Tatarstan Republic Regional Governor, Rustam Minnikhanov, has said that Tatarstan is eager to expand economic cooperation with India and could serve as a “gateway” for the South Asian nation to enter the local market. He was speaking at the TIME (Tatarstan-India Mutual Efficiency) Business Forum in the region’s capital, Kazan. Minnikhanov said that Tatarstan is looking to increase exports of automobiles, helicopters, ships, and petrochemical products.

He said, “We are interested in expanding cooperation with Indian partners in such areas as electronics, pharmaceuticals, light industry, IT, and high technology. As for investment projects, we currently do not have major joint initiatives with Indian companies, but we are open to dialogue and invite Indian businesses to consider Tatarstan as a gateway to the Russian market.”

India is planning to open a new consulate in Kazan to improve visa and consular services, provide commercial support, and expand its regional outreach in Tatarstan. The Indian Ambassador to Russia Vinay Kumar said, “We have very deep and extensive potential to cooperate; no wonder when we decided to expand our diplomatic presence in Russia, Kazan was one of the first places to choose for the consulate.” He added that the Russian hinterlands were “engines of growth” and noted that the fast-growing southern Indian states of Andhra Pradesh and Telangana were also represented at the Kazan forum.

Tatarstan is home to large companies such as oil major Taneft and its Taneco refinery and truck and heavy vehicle manufacturer Kamaz, as well as a booming IT industry. Russia is looking to position the republic as a hub for new logistics routes, mutual investments, and digital solutions.

Minnikhanov also said Kazan is one of Russia’s leading centers of science and education. “There are currently 1,167 Indian students studying at our universities,” he added. “We see great potential in developing academic and scientific cooperation between our countries.”

Tatarstan has a population of just over 4 million, with Kazan accounting for about 50% of this. Kazan is on the Volga and Kazanka Rivers, as well as having excellent rail, road, and air connectivity. About half of its population is Muslim, and as a result, the Tatarstan Republic has developed strong economic and trade ties with other Islamic nations such as Turkiye and those in the Middle East.

Russia has a free trade agreement with Iran via the Eurasian Economic Union, which has eliminated tariffs on 85% of all products. Some Indian manufacturers may wish to consider Tatarstan as a base for accessing the Iranian market, as access is easier and the India-Iran FTA has not yet been formulated.

Kazan and the Tatarstan Republic could also be primary target markets for certain Muslim Indian products, such as local halal items that the local market does not provide.

Russia’s Pivot to Asia can assist Indian companies wishing to explore the Russian market. Please contact us at info@russiaspivottoasia.com