"Indian business is attracted to Russia by the large market, with its gaps between supply and demand in certain consumer and industrial categories, and by the space created by the departure of Western firms," stated Kotwani.
He also noted that there is significant interest in Russia for Indian pharmaceuticals, information technology, and consumer goods.
However, the head of the business alliance pointed out that the main challenges for entering the Russian market are banking services, shortcomings in logistics, and difficulties in processing the necessary documentation.
In early December, during his visit to India, Russian President Vladimir Putin stated that the strong ties between Russian and Indian businesses serve as a reliable foundation for the relations between the two countries. He also noted that Russian companies are prepared to increase their procurement of goods and services from India, considering the surplus in the trade balance.