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Russian First Deputy Prime Minister Denis Manturov delivered a compelling address at the Russian-Indian Business Forum on November 11, 2024, in Mumbai.
NEW DELHI: Russian First Deputy Prime Minister Denis Manturov delivered a compelling address at the Russian-Indian Business Forum on November 11, 2024, in Mumbai, emphasizing the growing collaboration between the two nations. Manturov expressed gratitude to Indian Foreign Minister Dr. Jaishankar and highlighted the forum’s role in strengthening economic cooperation.
He underscored the crucial role of businesses in advancing trade, production, and technological partnerships. Despite global challenges, Russian and Indian businesses continue to thrive, with both sides aiming to surpass last year’s record trade volume. Manturov emphasized diversifying trade to include high-tech, non-raw materials, aligning with Russia’s push for technological sovereignty and India’s “Make in India” initiative. Both nations are focused on enhancing their manufacturing sectors, with Russia recently seeing industrial growth.
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Key areas for collaboration include transportation, alternative energy, advanced healthcare, and agricultural productivity. Russia’s investments in nuclear energy, high-power turbines, and alternative fuel technologies present opportunities for Indian companies. Manturov also highlighted Russia’s commitment to high-tech agriculture, biotech, and eco-friendly industrial solutions.
Infrastructure is another focal point, with projects like the International North-South Transport Corridor and the Vladivostok-Chennai sea route improving connectivity and trade. Manturov also introduced a new pilot project by the Russian Agency for Strategic Initiatives, offering a “Single Export Channel” for smoother trade collaboration.
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In an interview with Atul Kishan of The New Indian, Russian Ambassador to India Denis Alipov discussed the opening of a Russian business centre in India. He noted that hundreds of Russian companies are already integrated into India’s economy, particularly in energy, aerospace, and oil and gas. The centre will support small and medium-sized enterprises (SMEs), providing consultation and legal services, and fostering joint ventures in sectors such as pharmaceuticals, nanotechnology, robotics, and healthcare.
Regarding U.S. sanctions, Alipov expressed hope for a more pragmatic approach from the incoming U.S. administration, believing it could lead to better relations and stability between Russia and the U.S.
Manturov’s address reinforced the commitment to a strong Russo-Indian partnership, emphasizing strategic cooperation across various sectors.
