5th Russian-Indian forum on trade and investments

  Anand Sharma and Sergei Ivanov – closer business cooperation between Russia and India.

Anand Sharma and Sergei Ivanov – closer business cooperation between Russia and India.

The 5th Russian-Indian forum held in Moscow on November 10 shows Indo-Russian business relationship moves at a good pace. The number of high-profile guests on both sides and a wide range of cooperation fields were impressive.

The 5th Russian-Indian forum on trade and investments took place at the Grand Marriott hotel in Moscow on November, 10. The event was organized by the Ministry for economic development of the Russian Federation, the Ministry of commerce and industry of India and Business council for cooperation with India.

After the plenary meeting, specialized panels discussions began. The Forum focused on three specific areas in the form of deliberations over three round tables, namely, infrastructure, innovation and commercialization of technologies, and pharmaceuticals.

The large scale of the event was emphasized by the fact that its moderators were very high-profile personalities. Mr. Anand Sharma, Honourable Minister of Commerce, Industry & Textiles of India, and Mr. Sergei Ivanov, Deputy Chairman of the Government of the Russian Federation, co-chaired the forum.

Among the eminent speakers were Mr. Ramesh Adige, President of Ranbaxy Laboratories Ltd., Mr. Sergey Vorontsov, Deputy Minister of Education, Science and Technology, Mr. Arun Rana, Managing Director of Avia Prom Solutions Pvt. Ltd.,  Mr. Georgy Kalamanov, Deputy Minister of Industry and Trade, Mr. Deepak Loomba, CEO & Managing Director of De Core Nano Semiconductor Co., Mr. Rajiv Mehrotra, Chairman of Shyam Telecom Ltd. and other notable statesmen and businessmen from various industries.

The forum was concluded in a friendly and supportive atmosphere. The representatives of specific areas expressed their opinions on the results of the discussions.

Mr. Sergey Vorontsov, Russian Deputy Minister of Education, Science and Technology, participated in the infrastructure round table and voiced a point of view that “today knowledge and people who can use it play an important role, and the Indo-Russian cooperation in the field of high-technologies is the future”.

Mr. Rajiv Mehrotra, Chairman of Shyam Telecom Ltd., said that “India and Russia together make 20% of the world population, and their role in the world market is big” and suggested “developing Indo-Russian cooperation from G to G format to PPP format”.

Mr. Alexandr Frolov, Deputy General Director of the VEGA company noted that “it’s a good tendency that Russian-Indian partnership has crossed the boundaries of the military sphere and embraced a wider spectrum of industries” and at the moment his company is in talks on the preparation of financial basis for new Indo-Russian projects.

Mr. Ramesh Adige, President of Ranbaxy Laboratories Ltd. and leader of the Delegation, wrapped up the forum saying that serious decision-making always takes time. In one of his previous experiences of the presence at a round table discussion organized by another country it took about 9 meetings  throughout a year (which means 9 months) for the concrete results to be achieved. Half-jokingly, he said that “the main thing is that it doesn’t take 24 months, the time needed for the birth of an elephant baby, to achieve results”, and expressed hope that the 5th Russian-Indian forum on trade and investments will be an important step that gives an impulse to the business relationship between the two countries.

Mr. Sergey Cheremin, chairman of Business council for cooperation with India, agreed with his Indian counterpart saying that “according to a Russian proverb, constant dropping wears away a stone”, meaning that patience and persistence will help to go through any temporary difficulties or hold-ups that the businesses may come across.

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