Home / Knowledge / News / India-Russia forum to open new avenues & boost trade
India-Russia forum to open new avenues & boost trade
Feb '08
India and Russia need to pay more attention to each other to expand their trade and investment basket, said Mr Victor Zubkov, Prime Minister, Russian Federation, at the Second India-Russia Forum on Trade and Investment, organized by the Confederation of Indian Industry and Federation of Indian Chamber of Commerce and Industry, in New Delhi on Tuesday.

Mr Zubkov said, "The two countries should work closely to achieve the target of $10 billion bilateral trade by 2010. The two sides need to look at new areas of co-operation.

Russia can become India's most important economic ally if the two sides engage seriously with each other." The representatives from Russian oil, gas, mining and machinery industries are working closely with Indian businessmen and exploring ways for further co-operation, he added.

Speaking at the Forum, Mr Kamal Nath, Minister of Commerce and Industry, Government of India, said, "Our business ties are running far below potential.

We should address the issues of high transportation costs and inadequate exchanges between Indian and Russian businessmen to boost our trade volume.

The north-south corridor provides the shortest link between India and Russia through Iran and the Caspian Sea. The corridor could help reduce costs by nearly one-third. The diversification of high-value trade items could offset the transportation cost disadvantage."

"A number of Russian entrepreneurs are studying India's telecom market and are interested in investing in the manufacturing of telecom equipment.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search