“Over 700 Business Leaders Attend XV India-Russia Business Dialogue in Moscow”
Moscow [Russia], December 17: The XV India-Russia Business Dialogue recently took place in Moscow, attracting over 700 business leaders from both countries. The event aimed at strengthening the strategic partnership between India and Russia, with a particular focus on expanding collaboration in trade, high-tech industries, and other critical sectors.
The forum also sought to foster cultural exchanges and boost bilateral trade between the two nations. TV BRICS served as the official media partner for the event.
The plenary session featured a series of prominent figures, including 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; and Vladimir Platonov, President of the Moscow Chamber of Commerce and Industry (MCCI). These leaders highlighted several key areas of focus, such as expanding trade relations, advancing science and technology cooperation, and improving education, infrastructure, and cultural exchanges.
Cheremin remarked that 2024 had been a productive year for India-Russia relations, particularly in high-tech industries like pharmaceuticals, microelectronics, artificial intelligence, and transport infrastructure. He stressed the importance of continued collaboration to drive innovation and mutual growth.
Ambassador Kumar emphasized India’s economic achievements, citing the country’s impressive GDP growth rate of 7.58 percent and its ranking among the top three global economies in terms of purchasing power parity. He also praised the successful implementation of joint investment projects, especially in the transport sector, and called for the development of banking channels and payment systems to facilitate trade in national currencies.
Dmitry Volvach, Russia’s Deputy Minister of Economic Development, shared positive news on the trade front, revealing that the trade turnover between India and Russia had reached USD 46.5 billion in the first nine months of 2024, a 15 percent increase over the previous year. He also reaffirmed the ambitious goal of reaching USD 100 billion in bilateral trade by 2030, emphasizing the role of the International North-South Transport Corridor and simplified customs procedures in supporting this growth.
The tourism sector was another notable highlight, with Volvach reporting an 86 percent increase in Indian tourists visiting Russia this year. The introduction of electronic visas for Indian citizens has further boosted tourism between the two countries.
The dialogue included thematic sessions on finance, healthcare, biotechnology, and investment cooperation, all aimed at improving commodity flows, human resource development, and innovation. The event concluded with a series of B2B meetings designed to help foster new business relationships between India and Russia.
Organized by the Indian Business Alliance, the XV India-Russia Business Dialogue also received support from the Business Council for Cooperation with India, the Department for External Economic and International Relations of Moscow, and the Roscongress Foundation. This significant event underscored the growing collaboration and partnership between the two nations across multiple sectors.
