India and Russia to foster greater ties says Mr. Tarasyuk Yaroslav

“India and Russia have had a history of fruitful interaction in the past decades. Traditionally, the Indo-Russian partnership has been built on five major components namely politics, defence, nuclear energy, anti-terrorism cooperation and space. Going forward, the signing of the prospective Comprehensive Economic Partnership Agreement shall enable free trade in goods and services and foster cross border foreign investment flows as well,” said Mr. Tarasyuk Yaroslav, Deputy Director, Department of Asia and Africa, Ministry of Economic Development of the Russian Federation during an interactive meeting organised by MVIRDC World Trade Centre Mumbai and All India Association of Industries with a business delegation from Russia.

 In order to foster greater Indo-Russia ties it is essential that the economies hold interactive meetings and encourage exchange of business delegations in the future as well.  Russia looks forward to interact with the Indian economy in the spheres of economic cooperation, trade and investment said Mr. Alexey Novikov, Consul General of the Russian Federation in Mumbai.

 Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries said that the current bilateral trade between India and Russia stands at US$ 11.04 billion. The major Indian exports to Russia are pharmaceuticals; tea, coffee and spices; apparel and clothing; edible preparations; and engineering goods. Main Indian imports from Russia are iron and steel; fertilisers; non-ferrous metals; paper products; coal, coke & briquettes; cereals; and rubber. We intend to reach two-way trade to US$ 20 billion by 2018. World Trade Centre Mumbai, All India Association of Industries and the Russian India Trade House Mumbai are working towards achieving the same.

 Ms. Chermoshentseva Olga, Omsk Regional Fund for Small Business Support and Development called upon Indian business players to invest in the Omsk Region of the Russian Federation. Elaborating on the bright prospects in the region Ms. Olga said Omsk region is home to industrial clusters in agro, forestry, petrochemical, silicon and machinery sectors. The region has well developed water ways, railways and roadways.   The Omsk Regional Fund for Small Business Support and Development works towards development of small and medium businesses in the Omsk region. Further, the region aids entry of the small businesses sector into export markets as well. The Omsk Regional Fund shall assist in establishment of Indian small businesses in the region as well, she added.

 Further, three MOUs were signed in between MVIRDC World Trade Centre Mumbai & Omsk Regional Fund for Small Business Support and Development, All India Association of Industries & Omsk Regional Fund for Small Business Support and Development and the Russian India Trade House Mumbai & Omsk Regional Fund for Small Business Support and Development in order to strengthen trade and economic relations between India and Russia.

Over 100 business meetings from the sectors of medical equipments, research and development in medical engineering, electronic goods, pharmaceuticals, etc were held.

November 14, 2013    

Ms. Chermoshentseva Olga, Omsk Regional Fund for Small Business Support and Development exchanges the business protocol agreement with Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries. Others from L-R: Mr. Y R Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai and Mr. Alexey Novikov, Consul General of the Russian Federation in Mumbai.

Exchange of business protocol agreement between MVIRDC World Trade Centre Mumbai & Omsk Regional Fund for Small Business Support and Development, All India Association of Industries & Omsk Regional Fund for Small Business Support and Development and the Russian India Trade House Mumbai & Omsk Regional Fund for Small Business Support and Development. From L-R: Ms. Rupa Naik, Executive Director, All India Association of Industries, Mr. Y R Warerkar, Executive Director, MVIRDC World Trade Centre Mumbai, Ms. Chermoshentseva Olga, Omsk Regional Fund for Small Business Support and Development, Mr. Alexey Novikov, Consul General of the Russian Federation in Mumbai, Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries and Mr. Tarasyuk Yaroslav, Deputy Director, Department of Asia and Africa, Ministry of Economic Development of the Russian Federation.