Ukrainian MP Halyna Yanchenko has emphasized that Indian businesses should consider investing in Ukraine despite the ongoing war. She highlighted three key sectors that present significant opportunities for foreign investors: construction and reconstruction, energy, and defence and security. Yanchenko noted that there is a huge demand in these areas, particularly in the defence sector, where innovations are rapidly developing as Ukrainian companies collaborate with military units to enhance capabilities.

PM Modi's was indeed been a historic visit, she say. She is looking forward to more cooperation between India and Ukraine in terms of both economic relations and diplomacy. There is a lot of room for improvement in various sectors. There are a number of companies working in Ukraine that are owned or managed by people of Indian origin. These include diverse companies in sectors such as agriculture – there are companies exporting sunflower oil to India – pharmaceuticals, prosthesis etc, she further added. But most importantly, it was important to have a fair discussion with PM Modi about India’s position on Russia’s war of aggression against Ukraine. Ukraine respects India as a country and as a partner. Therefore, it is very important that India as a member of the civilised world, and as a country that respects international law and globally recognised borders, supports Ukraine and speeds up victory day on terms that are consistent with international norms and principles.

The Ukrainian government is actively promoting investment during the war, focusing on reforms and transparency to attract foreign capital. Initiatives like the UkraineInvest guide aim to facilitate the investment process by providing essential information and insights for potential investors. This ongoing commitment to fostering a favourable investment climate is crucial, especially as the country seeks to rebuild and recover from the impacts of the conflict.

There are three sectors in Ukraine that might be attractive for foreign investors. Construction or reconstruction industry, energy, and defence and security. Despite the war-related risks, there are huge demands in these three sectors.

This is because fantastic innovations are taking place in Ukraine in this sector. Halyna in her interview says that there are many Ukrainian companies that cooperate with Ukrainian military units to speed up all types of innovation. Therefore, it would be encouraging Indian investors to take a closer look at this sector. Ukraine can become a reliable defence-security partner for India spanning exports and co-production of innovative defence equipment.

There is also a lot of room for cooperation in IT. Both India and Ukraine have a lot of IT specialists. Both countries need to develop the skill of business management in IT. It is strongly believed by Halyna that Ukraine and India can collaborate in the IT start-up space and produce IT products and services for the global market.

Despite the challenges posed by the war, the potential for growth and innovation in Ukraine's economy presents a compelling case for Indian investors. The combination of government support and the urgent need for development in critical sectors makes Ukraine an attractive destination for investment.

Agencies