Ministry: Russian industrial equipment makers ready to raise sales

MOSCOW, Mar 22 (PRIME) – Demand for locally-made equipment is growing and the Russian industrial equipment producers are ready to satisfy it, the Industry and Trade Ministry said in a statement on Tuesday.

"The share of foreign components in several areas stands at only 20–40% and can be replaced with the Russian analogs quite soon," the ministry said.

The ministry said that some Russian exports can be retargeted to the local market due to the increasing demand. The government is ready to subsidize research and development and issue cheap loans, and consider abolishment of treasury support for the equipment contracts fulfilled with the budget money.

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