Russian Opportunity Indian Firms Poised to Fill Void in Abandoned Markets

22 Jan, 2024

Russia expresses a strong interest in Indian companies stepping into the void left by US and European businesses amidst the ongoing conflict with Ukraine.

The St. Petersburg International Economic Forum (SPIEF) emerges as a strategic platform for fostering deals and enabling Indian corporations to establish a robust presence in Europe's fastest-growing economy.

Deputy Director of the Roscongress Foundation and SPIEF Director, Alexey Valkov, highlights the plethora of niche opportunities in the Russian economy vacated by Western companies. With many local Russian firms and even China expressing interest, he identifies sectors like automotive, transportation, textiles, and light industries as potential areas for Indian investment.

While not specifying business interests, Valkov underscores the forum's role in facilitating an equitable dialogue for mutually beneficial relationships. SPIEF, scheduled from June 5 to 8, positions St. Petersburg strategically, bridging three continents and offering global business prospects.

The Russian Indian Business Forum, set for June 5, promises a dedicated platform for collaboration. Alexey Surovtsev, Consul-General of the Russian Federation in Mumbai, addresses the impact of US economic sanctions, emphasizing India's commitment to long-term friendly ties and adherence to business rules. SPIEF, being an open platform, ensures participant safety and confidentiality as needed.

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