14th India-Russia Business Dialogue

The 14th India-Russia Business Dialogue took place at the International Multimedia Press Center of Rossiya Segodnya in Moscow. The forum was organized by the Indian Business Alliance (IBA), the Department for External Economic and International Relations of Moscow, the Business Council for Cooperation with India, and the Roscongress Foundation.

The plenary session “Advancing Bilateral Trade and Investment: Prospects for India-Russia Cooperation” served as the key event. Intensive discussions unfolded across specialized sessions including “Creating Synergy: Transport Management, Logistics and E-Commerce Integration,” “Innovative Growth: Collaboration in Pharmaceuticals, IT and New Technologies,” and “Expanding Economic Landscapes: Prospects for Banking Finance and SME Development.”

During the plenary session, Sergey Cheremin, Minister of the Government of Moscow, Head of the Department for External Economic and International Relations, delivered remarks. He emphasized India’s position as one of the world’s fastest-growing economies with GDP growth exceeding 7 percent, noting its recent entry into the top five global economies by purchasing power parity. Since gaining independence, India has remained Russia’s reliable strategic partner across multiple sectors including energy, engineering, defense and high technology.

Over the past year, the Department for External Economic and International Relations of Moscow and the Business Council for Cooperation with India have organized dozens of business events aimed at strengthening partnerships and developing interregional ties. During his address, Sergey Cheremin announced Moscow’s participation in a new business mission scheduled for January 2024, as well as its involvement in the prominent Asian forum Smart Nation Expo in Delhi, where the capital plans to showcase its most significant advancements of the past decade.

Participants highly commended the role of the Indian Business Alliance (IBA) in establishing and strengthening business connections between commercial communities, with the goal of promoting Indian business interests in Russia. Through the Alliance’s efforts, numerous memorandums of understanding have been signed with trade chambers and commercial associations, significantly contributing to the enhancement of bilateral economic relations between the two countries.