On June 14, the XXVI St. Petersburg International Economic Forum (SPIEF) started in St. Petersburg. This is an annual economic conference in Russia with the participation of leading economists, company representatives, state leaders, ministers, financiers and scientists.
As part of the forum program, several sections were held with international participation, including the session "Russia - India", which was attended by experts from the two countries, including the Honorary Representative of the Chamber of Commerce and Industry of the Russian Federation in India Mr I.V. Piasetskii.
Bilateral trade between India and Russia has grown to over $35 billion in 2022-2023, beating all previous records and exceeding the target set by the two governments. The increase in trade has been driven in large part by the exponential rise in Russian oil exports to India, with Moscow now being New Delhi's largest energy supplier.
As part of his interview with RIA Novosti journalists on the sidelines of the 26th St. Petersburg International Economic Forum (SPIEF), Mr Igor Piasetskii noted that Indian manufacturers are “actively starting to enter” the Russian market and are looking for local business partners to create joint ventures.
He noted that in recent months an increasing number of Russian business delegations are visiting India to explore cooperation opportunities, which is a sign of strengthening business-to-business (B2B) ties.
In addition, the representative of the Chamber of Commerce and Industry of the Russian Federation touched upon such important issues as the need to optimize the settlement mechanism in national currencies, eliminate the “trade imbalance” in bilateral commercial relations, develop joint high-tech projects and build infrastructure within the North-South international transport corridor.
As part of the forum program, several sections were held with international participation, including the session "Russia - India", which was attended by experts from the two countries, including the Honorary Representative of the Chamber of Commerce and Industry of the Russian Federation in India Mr I.V. Piasetskii.
Bilateral trade between India and Russia has grown to over $35 billion in 2022-2023, beating all previous records and exceeding the target set by the two governments. The increase in trade has been driven in large part by the exponential rise in Russian oil exports to India, with Moscow now being New Delhi's largest energy supplier.
As part of his interview with RIA Novosti journalists on the sidelines of the 26th St. Petersburg International Economic Forum (SPIEF), Mr Igor Piasetskii noted that Indian manufacturers are “actively starting to enter” the Russian market and are looking for local business partners to create joint ventures.
He noted that in recent months an increasing number of Russian business delegations are visiting India to explore cooperation opportunities, which is a sign of strengthening business-to-business (B2B) ties.
In addition, the representative of the Chamber of Commerce and Industry of the Russian Federation touched upon such important issues as the need to optimize the settlement mechanism in national currencies, eliminate the “trade imbalance” in bilateral commercial relations, develop joint high-tech projects and build infrastructure within the North-South international transport corridor.