Putin’s India visit: Mega business forum to be held in New Delhi on Dec 4 & 5

A major India-Russia Business Forum will be held in New Delhi on December 4 and 5, coinciding with Russian President Vladimir Putin's visit. The forum aims to strengthen bilateral trade and investment as both countries work towards a $100 billion trade target by 2030.

According to a report in The Economic Times, the event will focus on expanding Indian suppliers in Russia, increasing industrial cooperation, implementing joint projects, and emphasising high-tech innovation and human resource movement. Pharmaceuticals and healthcare will be key topics, including broadening supplies of Indian medicines and medical devices, localising production in Russia, and establishing advanced pharmaceutical and MedTech manufacturing complexes, the report added.

Policy, investment, and regulatory mechanisms to support joint innovation and manufacturing growth are also on the agenda. The forum will highlight the complementary strengths of both countries, with India contributing expertise in digital public infrastructure, scalable software systems, and applied AI, while Russia will bring its capabilities in scientific research, secure communications, and advanced computing, the report added.

Key outcomes will include a set of high-impact collaboration pathways and a framework for sustained engagement across government, industry, and academia. 

A session will also focus on increasing the Indian labour force in Russia, with both sides preparing to sign a mobility pact as there is a growing interest in attracting qualified Indian personnel to various Russian regions, the report added.

Opportunities to boost exports of Indian foods to Russia will be explored, building on the existing presence of products like curries, snacks, and dairy. Discussions will consider expanding into cereals, sweets, seafood, and shrimps, following challenges faced by Indian exporters in the US market.