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Over 25 Indian firm to take part in Russian-Indian Trading House

April 23, 2012, 23:38 UTC+3
A branch of the House is to emerge in Moscow in the future, the consul-general added
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MUMBAI, India, April 23 (Itar-Tass) —— No fewer than 25 Indian companies and 20 Russian companies expressed the wish to take part in the activities of the Russian-Indian Trading House that opened in Mumbai on Monday, Vijay Kalantri, the head of the All India Association of Industries, told ltar-Tass.

He said there are plan to increase the number of companies participating in the Russian-Indian Trading House to the hundred in three years.

Russia’s ambassador to India Alexander Kadakin told Itar-Tass that the opening of the Russian-Indian Trading House which must become an effective tool for support and development of bilateral commercial and economic ties at the level of private, above all small and medium-sized, enterprise, will help Russia and India to bring mutual trade turnover to 20 billion dollars by 2015.

The Russian-Indian Trading House will be giving comprehensive assistance to Russian and Indian business people in the search of business partners and in setting up joint ventures, the ambassador said. “The Russian-Indian Trading House which will have one representative from India and one from Russia will be the first such organization here to support bilateral contacts of small and medium-sized businesses,” Russian Consul-General in Mumbai Alexei Novikov told Itar-Tass. “The companies cooperating with the Russian-Indian Trading House will be given assistance on our part, also in filling out documents,” he said. “They will also have a number of privileges, for instance, in putting their goods on the Russian market,” he said. .

A branch of the House is to emerge in Moscow in the future, the consul-general added. Russia and India aim to bring mutual trade turnover to 20 billion dollars, including through the development of bilateral contacts of small and medium-sized businesses. A memorandum of understanding between the Russian Business Council and the Associated Chambers of Commerce and Industries of India (ASSOCHAM) was signed in New Delhi for this purpose earlier.

The Russian-Indian Trading House was opened in the framework of the Indiallia international business forum to last till April 25. Business people from various Russian regions, including Kranoyarsk territory, Krasnodar territory and Tomsk region, will take part in it. They will have the opportunity to make presentations. Among the areas of cooperation in which they are interested Novikov mentioned oil production, metallurgy, automobile manufacture, pharmaceutics, biotechnologies and innovations.

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