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Ministry of Economic Development, Trade Representative Office and EXIAR organize business mission of Russian exporters to India

The second business mission of Russian exporters to promote Russian goods and services to the Indian market coincided with the International Engineering & Technology Fair. The business mission was organized by the Ministry of Economic Development of the Russian Federation, Trade Representative Office of Russia in India and Export Insurance Agency of Russia with support fr om the Confederation of Indian Industry (CII). The first business mission of Russian manufacturers to India was held in 2012.

A plenary session was held within the framework of the business mission with the participation of Oksana Tarasenko, Advisor to Minister of Economic Development of the Russian Federation – Director of the Department of Foreign Economic Activity Coordination, Development and Regulation, Shambu S. Kumaran, Joint Secretary of the Minister of External Affairs of India, Shubra Singh, Joint Secretary of the Ministry of Commerce and Industry, Dmitry Kunakov, acting Director for International Development at EXIAR, and Samar Shakil, Member of the Board of Directors of the Confederation of Indian Industry.

The plenary session was moderated by Trade Representative of Russia in India Yaroslav Tarasyuk. The Russian side of the business-mission was represented by 20 exporting companies (IVEKTA, Concern “Tractor Plants”, GLONASS, Sinara-Transport Machines, Uralvagonzavod, VNII “Metmash”, “Service Company “Energy of Siberia”, and representatives of other organizations and financial institutions (Sberbank, Eximbank of Russia, VTB and Promsvyazbank). The participants gave brief presentations about their business, products and services. The representatives of the Government of India emphasized that the market of their country was ready for cooperation with the Russian manufactures and they saw the Russian Federation as a strategic partner for a long-term period.

The event continued with bilateral meetings within the framework of the B2B networking event wh ere the participants representing Indian and Russian companies and banks had an opportunity to discuss areas of potential cooperation. More than 50 Indian companies took part in the business mission events.

Oksana Tarasenko stressed that “… the presentations delivered by the Russian companies and banks have aroused vivid interest on the part of the Government officials and business community of India. According to our experience such business missions are an effective instrument aimed to promote Russian exports to foreign markets.”

The active negotiations at the “B2B” networking event between Russian and Indian companies displayed a high interest of Indian importers in Russian hi-tech and innovative products involving Russian financial institutions’ services.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 31 billion. Since November 2014 Eximbank of Russia, a Russian specialized government–owned export–import bank, has been a subsidiary of Russian Agency for Export Credit and Investment Insurance (EXIAR). Since 2012 EXIAR has provided financial support to arrange 9 business missions in the high-priority countries – Brazil, India, Kazakhstan (2), Uzbekistan, Germany, Kirgizia, Vietnam, Armenia). The business missions resulted in signing 25 documents contemplating mutual implementation of projects by Russian and foreign participants.

 External Communications EXIAR