Moscow hosted the XV India-Russia Business Dialogue aimed at strengthening the strategic partnership between Russia and India, developing bilateral trade and creating new opportunities for business cooperation. The event brought together over 700 participants. TV BRICS was the media partner of the forum.

The plenary session discussed key issues of cooperation between Moscow and New Delhi in the fields of trade, science, infrastructure, education, and culture. The discussion was attended by Sergey Cheremin, Minister of the Moscow City Government and Head of the Business Council for Cooperation with India, Vinay Kumar, Ambassador of India to Russia, Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation, Vladimir Platonov, President of the Moscow Chamber of Commerce and Industry (MCCI), and others.

According to Cheremin, 2024 was a busy year for bilateral relations, especially in high-tech industries: pharmaceuticals, microelectronics, artificial intelligence and transport infrastructure.

For his part, Kumar focused on India’s stable GDP growth, which remains at 7.58 per cent, and the country’s position among the top three global economies in terms of purchasing power parity. Besides, he highlighted the successful implementation of joint investment projects, especially in the transport sector.

“The development of banking channels and payment options to facilitate settlements in national currencies is a vital stabilising factor in bilateral trade,” the ambassador emphasised.

Speaking about the development of trade ties, the deputy head of the Russian Ministry of Economic Development said trade turnover between the two countries reached US$46.5 billion in the first nine months of 2024, up 15 per cent over the same period last year. He also recalled the strategic goal to reach the level of US$100 billion by 2030. According to Volvach, trade development between Russia and India is facilitated by the International North-South Transport Corridor and the simplification of customs procedures.

The Deputy Minister paid special attention to the development of tourism, including through the introduction of electronic visas for Indian citizens. He said that this year the number of Indian travellers to Russia has increased by 86 per cent.

The President of the Moscow Chamber of Commerce and Industry noted the successful experience of interaction with young specialists from India, who got an opportunity to undergo an internship in Moscow. Platonov also expressed readiness to share experience in digitalisation with India.

The forum programme included three thematic sessions on finance and logistics, innovations in healthcare and biotechnology, investment and industrial cooperation. The participants discussed increasing commodity flows and human resource development. The Forum concluded with a series of B2B meetings to facilitate the establishment of new business contacts.

The XV India-Russia Business Dialogue was organised by the Indian Business Alliance with the support of the Business Council for Cooperation with India, the Department for External Economic and International Relations of Moscow and the Roscongress Foundation.

Source: TV BRICS