Turnover between India-Russia was about USD 2 billion last year: Moscow Deputy Governor
Apr 26, 2023
By Ayushi Agarwal
New Delhi [India], April 26 : India and Russia's turnover was about USD 2 billion last year, which is an increase of about 30 per cent over the year before that, said Ekaterina Zinoveva, Deputy Governor of Moscow on her visit to India on Wednesday.
In an exclusive interview with ANI, Zinoveva said, "During the last year, the turnover between the Moscow region and India was about 2 billion American dollars which is an increase of about 30 per cent. And obviously, we are very sure that during our roadshow, many companies in India and many Indian investors will increase."
She said that India will take a better place, especially in the high technology.
In the interview with ANI, Zinoveva said that the Moscow region is the leading region in Russian Federation. Moscow region is interested in different industries and some of them are Pharma, machinery and Biotechnology.
"Moscow region is the most developed industrial region in Russia and our team is ready to give full support to all Indian companies coming to the Moscow region," the Deputy Governor of Moscow said.
"In the Moscow region, nowadays, there are five economic zones, 66 industrial parks and 15 technological parks which are all awaited by Indian investors. We are ready to give full support for the opening, taxation and customs clearance for Indian companies coming to the Moscow region," she added.
Talking about the consideration of widening the use of "national currencies," the Deputy Governor of Moscow stated that the payments are available between Rupee and Ruble and Ruble Rupee on the territory of the Russian Federation. We are giving full financial support to partners in India. For example, our number one bank in Russia has a branch in India that is giving full cooperation to Indian investors.
Last week, Russian Deputy Prime Minister and Minister of Industry and Trade, Denis Valentinovich Manturov also visited India.
He reiterated that "despite negative external factors, positive dynamics in Russia-India trade prevailed as the bilateral trade between Moscow and New Delhi reached USD 30 billion, defining the intensity of Russian-Indian cooperation.
He also acknowledged the fact that both India and Russia have completed the task, ahead of schedule, set by the leaders of both countries to reach the level of bilateral trade of USD 30 billion by 2025.
The trade turnover between Russia and India exceeded USD 35 billion, stated the Deputy Prime Minister of Russia.
