In a significant development, Ukrainian officials have reached out to India for economic support, seeking investments to revitalize their war-battered economy. Deputy Economy Minister Volodymyr Kuzyo presented a compelling vision at a business summit in Gujarat, outlining a “win-win” scenario for both nations and the broader international community.
The move signifies a potential turning point in the strained relations between India and Ukraine, particularly following 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” suggests a possible shift in dynamics.
Despite the ongoing conflict, Ukrainian officials highlighted their economic resilience and aspirations for EU accession. Kuzyo emphasized over $30 billion in potential private sector investment opportunities, primarily in the energy sector, but also spanning reconstruction and infrastructure projects such as motorways, ports, and railroads.
An essential focus emerged on demining efforts, with Ukraine seeking equipment to survey vast areas of potentially contaminated land. To incentivize Indian investment, Kuzyo outlined benefits, including import duty exemptions, subsidies, and support from international financial institutions and insurers.
This comprehensive package aims to position Ukraine as an attractive investment destination, even in the midst of the ongoing war, showcasing the country’s determination to rebuild and create opportunities for collaboration with international partners.
