India, Russia cement business ties at Moscow conference

New Delhi: The XVI Russia–India Business Dialogue held in Moscow, attended by over 1,250 participants, observed that the development of Russia–India cooperation and implementation of joint business projects will continue at major international platforms, including the St. Petersburg International Economic Forum, scheduled to take place from June 3 to 6.

The Dialogue was organised by the Indian Business Alliance, the Business Council for Cooperation with India, the Moscow government, and the Roscongress Foundation.

During the plenary session, participants discussed the main directions of Russia–India cooperation, including the resolution of trade issues and identification of new opportunities to balance bilateral trade, according to an article in Modern Diplomacy.

The issue of ensuring logistics and financial resilience, development of industrial cooperation and import substitution, and partnership in energy, technology, and innovation also came up for discussion.

Besides, the implementation of joint projects in industry, energy, pharmaceuticals, and the digital economy was also taken up at the conference.

Moscow government Minister and the head of the city’s Department for External Economic and International Relations, Sergey Cheremin, highlighted the steady growth of business activity and the practical orientation of Russia–India cooperation.

“Russia–India contacts demonstrate confident momentum—more than 50 joint business events have taken place over the past year. Today, the focus is on the localisation of Indian businesses in Russia, the development of industrial cooperation, pharmaceuticals, electronics, and creative industries, as well as growth in mutual investments and high-tech product supplies,” he said, as per the article.

Indian Business Alliance (IBA) President Sammy Kotwani emphasised the practical nature of Indian companies’ interest in cooperation with Russia.

“The event reflects a new stage of strategic partnership between our countries—practical, regionally focused, and aimed at implementing concrete projects. More than 1,250 registered participants and the active involvement of Russian regions confirm the high level of trust and interest in long-term cooperation,” he said.

In his address at the plenary session, Roscongress Foundation’s Deputy Director and the St. Petersburg International Economic Forum Director, Alexey Valkov, underlined SPIEF’s importance as a key international platform for practical cooperation:

“India is a constant and key participant in Roscongress Foundation events. We consistently develop Russia–India dialogue not only at events held in Russia, but also through international outreach initiatives of the Foundation,” he added.

IANS