Russian shipbuilding company plans to setup base in India.

The United Shipbuilding Corporation of Russia consider locating a manufacturing hub in Visakhapatnam, Andhra Pradesh.

"Russian shipbuilding firms are inclined for setting up joint ventures with Indian firms as part of the indigenization of Defence manufacturing equipment," Alexey Rakhmanov, President of United Shipbuilding Co. said.

The proposed manufacturing hub in India could become their global production unit, he said.

According to CEO of Andhra Pradesh Economic Development Board, Krishna Kishore, Andhra Pradesh offers a perfect eco-system for defence manufacturing equipment, as the city is already playing host to various defence sector enterprises.

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