NEW DELHI: India-Russia trade and economic partnership across sectors including railways, agriculture and pharmaceuticals have received a boost with slew of meetings and arrangements held during the past week. Russian Railways Holding remains interested in participating in the Indian projects to modernize the railway infrastructure.
Sergey Pavlov, First Deputy Head of Russian Railways, told reporters about this on the sidelines of the XV International Economic Forum of the CIS Member States “Dialogue of Integrations: CIS, EAEU, SCO, BRICS”.
“Of course, we are now going to discuss further promising projects at the IPC,” he said, answering a question from journalists about maintaining interest in participating in projects in India. Pavlov added that the Holding is primarily interested in modernizing India’s railway network.
Earlier, the Russian Railways reported that foreign business retains an interest in cooperation with Russian Railways. One of the targets of the Russian Railways’ foreign business for 2023 is the development of markets for infrastructure projects that have the synergy of increasing exports to Turkmenistan, Kyrgyzstan, Iran, India and other countries.
Meanwhile, Obninsk and Indian entrepreneurs met at a traditional business breakfast at the Chamber of Commerce and Industry of Obninsk.
Discussions were devoted to the economic activities, in particular, the development of cooperation between the Kaluga region and India. “We will be glad to cooperate with you,” entrepreneurs from India noted during the meeting.
The Obninsk Chamber of Commerce and Industry assured that businessmen would be provided with comprehensive support.
Business mission of the Russian companies exporting agricultural products launched its mission in India on March 14 with the opening of the Russian pavilion at the international exhibition AAHAR International Food & Hospitality Fair 2023 and a business forum organized by the Ministry of Agriculture of Russia and the Federal Center “Agroexport” with the support of the Ministry of Agriculture and welfare of farmers in the Republic of India.
From the Russian side, the forum was attended by the Ministry of Agriculture of Russia, Rosselkhoznadzor, the Union of Grain Exporters, the National Union of Poultry Farmers and more than 20 leading Russian manufacturers and exporters of agricultural products, from the Indian side – more than 90 importers, traders, distributors, processors and industry associations, including the Indian Chamber of International Business, Indian Cereals and Pulses Producers and Exporters Association, Organic Producers Association and others.
As Maxim Markovich, Director of the Department for International Cooperation and Development of Exports of Agricultural Products of the Ministry of Agriculture of Russia, noted at the opening ceremony, India is Russia’s key partner in trade in agricultural products and food in South Asia. In 2022, the trade turnover increased by 60% and amounted to $1.7 billion, however, the Ministry and Russian business see great prospects in the further development of cooperation with Indian partners.
According to Manpreet Singh, President of the Indian Chamber of International Business, agriculture is one of the most important sectors in trade relations between the two countries, and cooperation in this area has been going on for many centuries. He spoke about the specifics of the food market in India, including differences in demand and taste preferences depending on the region of the country. “India should not be considered as a single market. If you want to supply your products, you need to diversify your basket, focus on different regions and different segments, and take into account the characteristics of these regions.”
The head of Agroexport, Dmitry Krasnov, who moderated the plenary session, highlighted the main trends in the Indian market and assessed the potential of Russian exports. Over the past five years, Russian exports of agricultural products to India have grown almost 5 times and approached $ 800 million. The main supplies are sunflower and soybean oil. “But we see great prospects for increasing shipments in these areas. We expect that by resolving financial and logistical issues, our supplies of oil and fat products can reach 800 thousand tons in the coming years and exceed $1 billion,” Krasnov predicted.
There is also a high potential in the export of leguminous products. Bimal Kothari, chairman of the Indian Grain and Pulse Producers and Importers Association, noted the steady growth in demand for pulses: according to forecasts, their consumption in the South Asian country will reach 35 million tons by 2030.
Assistant to the head of Rosselkhoznadzor Artem Daushev pointed out the prospects of exporting meat and finished meat products to India. “We still do not supply much livestock products to India, but we hope to expand the volumes,” emphasized Daushev. In his speech, he dwelled on the principles of the Russian quality control system, which provides full traceability from the field to the counter.
The Deputy General Director of the Food Corporation of India, Chandrasen Kumar, confirmed the high potential for increasing mutual sales of agro-industrial products, including processed ones, thanks to long-term and historically close bilateral relations based on trust. In turn, the possibilities of Russian suppliers were presented by Eduard Zernin, Chairman of the Board of the Union of Grain Exporters, Sergey Lakhtyukhov, Director General of the National Poultry Union, and Ilya Ilyushin, an independent expert.
Russian financial institutions, such as Sberbank, can help exporters not only support transactions abroad, but also assist in finding partners and organizing negotiations. Ivan Nosov, CEO of the India division of Sberbank, spoke about the work of the bank’s branch in New Delhi and the tools offered to both Russian and Indian businesses.
Meanwhile at the Russia-India Pharma Business meeting representatives of 54 Indian companies were presented with the potential of the Tyumen region in developing the pharmaceutical business.
Anton Mashukov, director of the regional department for investment policy and state support of entrepreneurship, spoke in detail about the opportunities for cooperation with India. He noted that the region has both opportunities and successful experience – namely, a large-scale project developed there by an investor with Indian roots – the Pharmasyntez-Tyumen plant. This enterprise is one of the largest in Russia, it produces hypoglycemic and anti-tuberculosis drugs, antimicrobial, hemostatic and antiviral drugs. Indian companies showed interest in capabilities of the Tyumen region, and will examine the certain needs for medicines, equipment, niches for investment and prospects for cooperation.
On March 15, delegation from the Russian Federal Service for Veterinary and Phytosanitary Supervision (‘Rosselkhoznadzor’) had discussions ed in New Delhi with the representatives of the Department of Animal Husbandry and Dairying of the Ministry of Fisheries, Animal Husbandry and Dairying of the Government of India a number of issues pertained to the access of the Russian products of animal origin to Indian markets. In addition, the issue of mutual cooperation in the field of veterinary safety was discussed, including a scientific dialogue between competent institutions. ‘Rosselkhoznadzor’ delegation invited Indian colleagues to visit Russia in order to exchange experience in the fight against the spread and elimination of especially dangerous animal diseases.
Leave a Comment
You must be <a href="https://b2bchief.com/wp-login.php?redirect_to=https%3A%2F%2Fb2bchief.com%2Findia-russia-explore-market-access-in-railways-and-other-sectors-infra-news-et-infra%2F">logged in</a> to post a comment.