News of CCI Russia and FICCI India

Russian Chamber of Commerce and Industry in India: Cooperation with India at the SME Development Forum

Russian Chamber of Commerce & Industry in India participated in the 9th MSME Development Forum under India International Trade Fair and Expo in Pragati maidan New Delhi on 11th August, 2023 focused on Indo-Russia Economic Partnership: Opportunities & Challenges – Interaction with Govt officials & Trade Representation of Russia.

Russian Chamber of Commerce and Industry in India was represented by Mr Anjani Kumar Das on behalf of the Honorary Representative of Russian Chamber of Commerce and Industry in India Mr Igor Vladimirovich Pyasetsky.

The event was inaugurated by the Chairman MSME Mr Rajneesh Goel and Russian side was headed by Mr Evgeny Griva, Deputy Trade Commissioner of the Russian Federation in India.

It was an exclusive B2G and B2B sessions with Russian Government officials and Trade commission Representation of Russia.

On behalf of Mr Igor Vladimirovich Pyassetsky, Mr Das thanked the Russian Trade Commission for the invitation to take part in this significant and representative business forum.

Mr Das addressed the gathering highlighting the key trade issues between Russia and India as below:

To fortify economic ties between Russia and India's SMEs, the Russian Chamber of Commerce and Industry pursues a strategic plan centered on interregional collaboration.

A pivotal agreement between the Chamber of Commerce and Industry of Russia and the Federation of Indian Chambers of Commerce and Industry (FICCI) underscores this cooperation. It enables seamless collaboration between regional commerce chambers of both nations.

Focusing on two domains—dealership and production localization—the Chamber accommodates SMEs and catalyzes economic cooperation.

Pharmaceuticals emerge as a focal point of mutual interest. A multitude of Indian pharmaceutical enterprises has signaled their intent to establish localized production facilities in Russia. This has led to ongoing negotiations with various Russian regions., actively seeking Russian distributor-partners for their products.

India's prowess as a global leader in textile and fabric production is also highlighted. The departure of Western brands and manufacturers from the Russian market has created a burgeoning demand for these products. Many of these well-regarded global brands are now manufactured by Indian companies, thus cementing India's influence in this sector.

Russia's robust presence in the IT sector also draws attention. Collaborative IT projects are being piloted, with plans to create joint products tailored to the needs of Indian customer.

Russian companies are keen on acquiring loans in rupees, though existing laws currently hinder this due to banks lacking authorization to hold rupees. In a bid to bolster these efforts, the Chamber of Commerce and Industry of the Russian Federation, bolstered by FICCI's support, has charted business trips to Delhi and several Indian regions for the current year. This tangible step underscores the commitment to translate collaborative intentions into tangible economic gains for both nations.