Business forum «India meets the world. Russia-India: new business horizons»

On the 1-st of November business forum «India meets the world. Russia-India: new business horizons» was held in Moscow Chamber of Commerce and Industry.

Within the framework of the forum the questions of expansion mutually beneficial cooperation in the chemical, pharmaceutical, oil and gas, petroleum industries and in mechanical engineering were discussed.

Aleksey Bondaruk, the deputy head of the Department for external economic and international relations of Moscow noted «the using of mutual settlements rupee-ruble, development of the alternative transport routes, as well as the proactive position of business circles» contribute to the active rapprochement between Russia and India, which became the basis for 120% growth of trade turnover in the first half of the year.

Trade representative of Russia in Republic of India Aleksandr Rybas in his speech commented on the situation with the growth of trade turnover between Russia and India calling it unbalanced. Also the trade representative stressed that «the infrastructure sector is a key engine of the economy, the government of India pays close attention to its development» and that in many areas, such as the construction of railways and metro construction, Russian companies have good opportunities for mutually beneficial cooperation.

The president of LLC «Soltex Group», the deputy Chairman of Moscow Chamber of Commerce and Industry for external economic cooperation with partners in India, Manish Kumar, for his part, noted that India is ready to occupy the vacated niches and supply the necessary goods to Russia.

Ivan Timofeev, program director of the Russian International Affairs Council named the friendly course of the Indian government and transaction guarantees, despite the threat of secondary sanctions, including from the United States among the positive factors for the development of economic relations between Russia and India.

Also, after the end of the plenary session, there was a discussion of topical issues regarding the making payments and transactions, the development of the payment system between the BRICS countries, changes in the logistics system in modern conditions, growth vectors for the logistics business, etc.

In addition within the framework of the forum, several Indian companies presented their capabilities in the production of automotive parts, industrial washing machines, polymers, technical textiles, agro-industrial products and equipment, and ceramic tiles. A separate section was devoted to cooperation in the field of pharmaceuticals.

As a result of the business forum Vice President of MCCI, Chairman of the MCCI Commission for external economic cooperation with partners in India Suren Vardanyan noted the importance of implementing the global mission of developing mutually beneficial cooperation between Russian, Moscow and Indian companies.