Russian and Indian Small and Medium-Sized Enterprises Forum (SME Forum) was held in Mumbai on February 21, 2019. The forum was arranged by the Ministry for Industry and Trade of the Russian Federation, the Confederation of Indian Industry, and Russian Export Center JSC. The head of Minpromtorg Mr. Denis Manturov, the Minister of Commerce and Industry of the Republic of India Mr. Suresh Prabhu, and the CEO of REC JSC Mr. Andrey Slepnev, took part in the event.
The forum launched the operation of REC group (exports support group), which had been located in the local office of VEB.RF. The group is headed by the representative of Russian Export Center in India. It also includes five experts in Mumbai and one in Deli.
The specialists will deliver a wide range of services to the exporters, including advisory and analytic services, search foreign partners, the arrangement of participation in trade shows and business missions, assistance to Russian-Indian projects using the financial tools provided by REC and VEB.RF, and much more.
It’s worth reminding that we together with Minpromtorg of Russia and VEB.RF are creating a Unified system to promote exports in regions and abroad. The system implies the integration of the available tools for exports support and promotion, including the joint capabilities of REC, VEB.RF, and our trade missions abroad. The office in India is the first step to the implementation of a pilot project, which suggests the arrangement of exports support groups on the basis of renovated Trade missions
It is also planned to develop the relations with the commercial counselors, i.e. local companies experienced in exports of Russian products to India, to extend the cooperation between Russian and Indian companies. They may act as business providers with specific knowledge of the market and promotion. Such companies shall be required to be certified by and to execute an agreement with REC. Today, the REC group held a meeting with the first such commercial counselors in its local office in India.
The head of Russian Export Center emphasized that the decision to create the exports support group in India meets the objectives to expand the volumes of non-resource exports to India, which has grown by 23% up to $5.5 bln. in 2018.