The Federation of Indian Chambers of Commerce and Industry has decided to set up an advisory board for a special focus on exports to Russia. This is part of Indias overall strategy to improve relations with Russia. According to senior officials in the ministry of external affairs, India will also be holding a number of business and cultural activities in Russia. We would like to encourage more and more Indian businesses to look at that market, especially in traditional goods like textiles and tea. India believes that it has to tap the business in Russia within the next one year since by that time other countries will also establish themselves there, said officials.
India was one of the top exporters of textiles to Russia but lost that market. That is an expanding and highly consumer-oriented market and this is the time when the exporters should make efforts. We just have one year to get in, otherwise it will be a loss, said an official. CII has also planned to have an enterprise show for the first time ever in Kiev, Ukraine. We want to get stronger in that region with concentration on Russia, added officials. Strategic partnership and increasing bilateral trade have been the top-most agenda during the various meetings between the officials from both countries.