The Ukrainian League of Industrialists and Entrepreneurs and the Confederation of Indian Industry (CII) have set up The Joint Business Forum (JBF) between the two countries. In a meeting held in 2003 cooperation in the fields of pharmaceutical and chemicals, IT, Telecommunication, Finance and Banking and Automobile Industries sectors was discussed. The possible areas for cooperation between the industries of the two countries are mechanical

engineering, shipbuilding, light industry, mining, metallurgy, steel, coking industry, construction of road and rail networks in India etc. Ukraine’s expertise in the manufacture of world class gas and steel turbines for thermal, hydel and nuclear power plants, compressors, transformers, pumps, motors equipment for laying power transmission lines etc. is well known in the Indian industry. Hence Ukraine and India are looking into new avenues for joint ventures in power projects in India.

Federation of Indian Chambers of Commerce and Industry (FICCI) invited a Ukrainian delegation from the International Chamber of Commerce to sign a Memorandum of Understanding with ASSOCHAM. This helped in industrial cooperation between the two countries.

Industrial cooperation between the two countries, especially in the metallurgical industry, has been cemented with trust and good will since many years. Joint Stock Companies (JSC) like “Novokramatorskyi” a machine-building plant”, “Azovmash” that supply equipment for oxygen converter manufacturing have been set up. “Ukrindustry” is a consortium which has won tenders for carrying out coke batteries’ reconstruction at the metallurgical plants in Rourkela and Bokaro. They have also put up tenders for the same at the Bhilai metallurgical group of enterprises. For the last many years JSC “Turboatom” has had a successful working relationship with the Indian power generating industry. Today, “Turboatom” carries out the contracts and delivers generating turbines for Indian nuclear power stations at “Kaiga” and Rajasthan.

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