Look beyond Moscow for $10 bn trade with Russia by 2010: IRCOC
Indian business needs to reach beyond Moscow to scores of regions in the Russian Federation if the 10-billion-dollar bilateral trade target is to be achieved by 2010, a newly formed Russia-focused chamber said.
By PTI |
NEW DELHI: Indian business needs to reach beyond Moscow to scores of regions in the Russian Federation if the 10-billion-dollar bilateral trade target is to be achieved by 2010, a newly formed Russia-focused chamber said.
"In devising a new strategy for reaching the 10-billion- dollar trade mark, the growing importance of regions of the Russian Federation needs to be understood," Secretary General of India-Russia Chamber of Commerce (IRCOC) Pripuran Singh Haer said here.
Haer, who served as India's Ambassador to Russia, said each of the 87 regions of the federation was gaining economic importance, especially from the point of view of small and medium enterprises.
"While Indian businessmen go only to Moscow, decisions are taken at the level of regions of the Russian Federation," he said.
The IRCOC, inaugurated by Russian Deputy Prime Minister Alexander Zhukov earlier this week, has former Foreign Secretary Shashank and Russian Ambassador to India Trubnikov as its co-patrons.
Haer said though both the economies were growing at a fast pace, India-Russia trade has remained below its potential at 3.3 billion dollars.
India's total merchandise trade in the current fiscal would be close to 400 billion dollars.
There are at least 20 top Russian companies that have forged business relations with Indian firms.
"In devising a new strategy for reaching the 10-billion- dollar trade mark, the growing importance of regions of the Russian Federation needs to be understood," Secretary General of India-Russia Chamber of Commerce (IRCOC) Pripuran Singh Haer said here.
Haer, who served as India's Ambassador to Russia, said each of the 87 regions of the federation was gaining economic importance, especially from the point of view of small and medium enterprises.
"While Indian businessmen go only to Moscow, decisions are taken at the level of regions of the Russian Federation," he said.
The IRCOC, inaugurated by Russian Deputy Prime Minister Alexander Zhukov earlier this week, has former Foreign Secretary Shashank and Russian Ambassador to India Trubnikov as its co-patrons.
Haer said though both the economies were growing at a fast pace, India-Russia trade has remained below its potential at 3.3 billion dollars.
ADVERTISEMENT
India's total merchandise trade in the current fiscal would be close to 400 billion dollars.
There are at least 20 top Russian companies that have forged business relations with Indian firms.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
