Russia-India Business Forum: A New Era of Economic Cooperation

The Russian-Indian Business Council is establishing a permanent office in New Delhi, reflecting growing collaboration. The recent Russia-India Business Forum in Mumbai showcased increased trade diversification and mutual opportunities. Indian External Affairs Minister Dr S Jaishankar envisions bilateral trade exceeding USD 100 billion by 2030.

The Russian-Indian Business Council is set to inaugurate its permanent office in New Delhi, underscoring a burgeoning partnership between the two nations. Speaking at the Russian-Indian Business Forum held in Mumbai, Alexey Valkov, Director of the St Petersburg International Economic Forum, expressed optimism about the diversification of trade between the countries.

The forum, aimed at creating a collaborative platform for businesses, highlighted Russian technological offerings and other services. Valkov noted the significance of advancing mutual goals and acknowledged the vibrant representation from both sides, emphasizing the importance of continued progression in bilateral relations.

Reflecting on the forum's impact, German Maslov, Vice President of Liner and Logistics, described it as a catalyst for new opportunities. He shared that FESCO has significantly increased its fleet capacity between the two countries, driven by a promising outlook for trade growth.

The forum allowed participants to engage with visiting business delegations and explore emerging trade and investment possibilities. Discussions spanned various sectors, including infrastructure, logistics, finance, energy, and information technology.

Indian External Affairs Minister Dr S Jaishankar projected that bilateral trade could surpass USD 100 billion by 2030. He outlined critical development areas and stressed the need for a Comprehensive Economic Partnership, emphasizing accelerated negotiations on a Bilateral Investment Treaty to boost investor confidence.

(With inputs from agencies.)