Ukrainian officials reached out to India on Wednesday, seeking investments to revive their war-battered economy.
This is based on a Reuters report.
At a business summit in Gujarat, Deputy Economy Minister Volodymyr Kuzyo presented a compelling vision, claiming Ukraine’s resurgence would be a “win-win” for both nations and the international community.
This outreach marks a potential turning point in India-Ukraine relations, which have been strained since Russia’s invasion.
India’s neutral stance and increased energy imports from Russia have drawn criticism from Western allies supporting Ukraine.
However, the seminar, titled “Ukraine–India: Investment Opportunities for a Better Future,” signalled a possible shift.
Despite the ongoing conflict, Ukrainian officials emphasised their economic resilience and EU accession aspirations.
Kuzyo highlighted over $30 billion in potential private sector investment opportunities, primarily in the energy sector but also encompassing reconstruction and infrastructure projects like motorways, ports, and railroads.
Demining efforts also emerged as a crucial area, with Ukraine seeking equipment to survey the vast swathes of potentially contaminated land.
To incentivise Indian investment, Kuzyo outlined potential benefits like import duty exemptions, subsidies, and support from international financial institutions and insurers.
This comprehensive package aims to make Ukraine an attractive investment destination despite the ongoing war.
(With inputs from Reuters)
