New perspectives for business development between Russia and India discussed in Moscow
The Moscow Chamber of Commerce and Industry (MCCI) held a business forum "India meets the world. India-Russia: new business horizons". The event was attended by representatives of SEZ Lotus JSC.
"Russia and India are connected by the centuries-old friendship. The current strength of this state is in many respects conditioned by the support of our country during different periods of time, as during our independence and during the development and formation, - said the President of the Moscow Chamber of Commerce and Industry Vladimir Platonov in his welcoming speech. - And now as never before is the time to strengthen our mutually beneficial cooperation with our true friends".
According to the deputy head of the Department for External Economic and International Relations of Moscow Alexey Bondaruk, the trade turnover between Russia and India in the first half of the year grew by 120 percent. "We actively cooperate in the chemical, pharmaceutical, oil and gas, oil refining industries, mechanical engineering, especially in the field of high technology and smart solutions," he said.
Manish Kumar, President of Soltex Group LLC, Deputy Chairman of MCCI Commission on foreign economic cooperation with partners in India noted that now Russia needs various goods which India can provide due to the severance of many partnerships. This applies to car spare parts, textiles (including industrial), engineering products, pharmaceuticals, etc. However, according to him, trade turnover and trade relations are not developing intensively enough. The issues of logistics need a solution - new corridors are being developed, the problems of mutual settlements not in hard currencies, but in rubles and rupees are being actively solved. Manish Kumar expressed hope that business contacts will develop more intensively thanks to the joint efforts of Russia and India.
"Last year Russia ranked 21st for India as a trading partner," said Alexander Rybas, Russian Trade Representative to the Republic of India. - The trade turnover in 2021 exceeded $13.5 billion and reached its record values."
Stable logistics routes can be a driver for the increase in trade turnover between Russia and India. Therefore, special attention is focused on The International North-South Transport Corridor. Irina Bocharnikova, head of the Investor Relations department of SEZ Lotus JSC, told the forum participants about the development of the Caspian Cluster - the industrial production special economic zone "Lotus" and the Port SEZ in the Astrakhan region, which will become the main logistics hub of Russia on the North-South ITC. Currently the territory of the first stage of this SEZ is being prepared for construction of grain, oil, container and other terminals. Tax privileges and customs preferences are available for the residents of both SEZs, which allow realizing the project on beneficial terms.
Indian logistics and pharmaceutical companies, manufacturers of polymers, technical textiles, agricultural products and equipment, ceramic tiles and other companies held negotiations at the forum. The Indian side expressed interest in the work of the Caspian Cluster and the continuation of the dialogue.
"We are interested in Indian business to be represented in the special economic zones of the Caspian Cluster. We are actively working with partners from India. We are considering different options for cooperation: attracting new companies to open production facilities in the industrial production SEZ, implementation of logistics activities in the port SEZ and joint implementation of investment projects. In September, we paid a working visit to India, held meetings with representatives of India, as well as logistics companies, operators of Indian ports and relevant agencies. Participation in these events allows us to inform representatives of the Indian side about the opportunities of the industrial production and port SEZ, to find new partners and potential investors", - comments Sergey Milushkin, Director General of SEZ Lotus JSC.
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