Russia-based Alrosa, the world's largest diamond mining company, is investing in Mumbai in sales, marketing and support project. Alrosa recently opened up its representative office in Mumbai on the territory of Bharat Diamond Bourse.
Russia Plus
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Our Existing Relations
Our Existing Relations
India and Russia have been close allies for 70 years.
While the relationship started with defence and security cooperation, over the years, Russia has grown to become a prominent trade and economic partner. Russia has invested $1.2 bn during 2000-18, with key investment areas being oil & gas, aerospace, defence and financial services.
Major Russian Investors
Target set for bilateral trade at $30 bn by the year 2025. Level of mutual investments expected to reach $15 bn by 2025.
Of the cumulative FDI inflow of $1.2 bn from Russia during 2000-18, the telecommunications sector has attracted most investments in India, with a 68% share.
In March 2017, India and Russia agreed to set up a $1 bn fund to promote mutual investments in infrastructure and technology projects.
India’s Prime Minister meets with the President of Russia for the Annual Bilateral Summit every year since 2000. It is the highest institutionalized dialogue mechanism in the strategic partnership between the two countries.
In 2017, the 18th Summit was held in Russia in St. Petersburg and concluded in the signing of 12 documents related to cooperation over a very wide range of fields.
The two Inter-Governmental Commissions - IRIGC-TEC (Trade, Economic, Scientific, Technological and Cultural Cooperation) co-chaired by the External Affairs Minister from India and Deputy Prime Minister from Russia and IRIGC- MTC (Military Technical Cooperation) co-chaired by the Russian and Indian Defence Ministers, meet annually.
India and Russia marked 70 years of diplomatic ties in April 2017. A roadmap of celebrations was adopted by both the countries include seminars, discussions, exhibitions, exchanges and many other activities.
According to Russian Federal Customs Service data, bilateral trade in 2016 amounted to $7.7 bn, with exports from India amounting to $2.4 bn and imports from Russia amounting to $5.3 bn.
Major items of export from India include pharmaceuticals, tea & coffee, tobacco, mechanical appliances and organic chemicals.
Major items of import from Russia include pearls, precious and semi-precious stones & metals, nuclear power equipment, electrical machinery and equipment and mineral oils.
FDI inflows for the year 2016-17 stood at $11 mn, cumulatively crossing $1.2 bn since April 2000. Russia ranks 21st amongst the 156 countries that have invested in India during 2000-18.
There is a strong tradition of Indian studies in Russia. Jawaharlal Nehru Cultural Centre was opened in Moscow in 1989 to fulfil the interests of Russian admirers in the Indian culture and its multifaceted traditions.
The Centre maintains close cooperation with leading Russian institutions and conducts classes in classical dance, traditional musical instruments, and Ayurveda for about 800 students every month. Indian languages such as Hindi, Tamil, Marathi, Gujarati, Bengali, and Sanskrit are taught in leading Russian institutions.
The President of India inaugurated the Year of Indian Culture “Namaste Russia” in Moscow on 10 May 2015. About 15 performances in 8 cities were held as part of the event.
The Indian Embassy in Russia, with support from regional governments, organized week-long celebrations marking the second International Day of Yoga, covering 70 regions and involving over 50,000 enthusiasts.
Recent Investments
Russia’s biggest oil producer Rosneft acquired 49% stake in Essar Oil, including its refinery in Gujarat, for $12.9 bn.
Rosatom and its engineering division Atomenergomash and private firms are discussing mini hydro projects with the Indian government. Building the mini hydropower units is estimated to cost more than $1 mn per MW.
Sistema Asia Fund, investing in high-tech companies in India, announced the expansion of their fund value from $50 mn to $120 mn, having already invested in start-ups such as Wooplr in Bengaluru and Seclore in Gurugram.
Reliance Industries Ltd. JV with Sibur, Russia and Eastern Europe’s largest petrochemical company, is setting-up South Asia’s first butyl rubber production facility at Jamnagar, Gujarat with an expected capital inflow of more than $2.3 bn.
Russia Plus
Russia Plus acts as a one-stop solution for investors by providing handholding support that includes business advisory, policy guidance, location assessment, assistance with regulatory approvals, issue redressal and expansion support.
Key Functions
- Sector-stakeholder support
- Start-up portal
- Event support
- Mid-market segment support
- Government liaison
- Joint venture support
Our Team Members
Aarati Sharma
Principal Investment Specialist, Head - Russia Plus
Fluent in Russian and German
Arnav Kalia
Investment Specialist, Russia Plus
Specializes in Retail & E-commerce sector and Railways sector
Manan Jaisinghani
Investment Specialist, Russia Plus
Specializes in Aerospace sector
Team Advantages
Expediting license approval
Provide policy advocacy
Location assessment
Business advisory
Issue redressal
Russian language proficiency
We are the inheritors of Russia's legacy and beneficiaries of their hard work and above all, their unwavering faith in this relationship. We are committed to building on this legacy and bequeathing to our youth a strong and vibrant partnership that will contribute to changing the world for the better.
Shri Narendra Modi, Hon'ble Prime Minister of India
Russia values the relations of special and privileged strategic partnership with India. I am convinced that through joint efforts we will bring about further development of bilateral political dialogue, fruitful cooperation across all sectors as well as constructive interaction in global affairs. Undoubtedly, it meets the core interests of friendly peoples of our countries.
Vladimir Putin, Hon’ble President of Russia
Our relation with Russia is on a different pedestal and we have a full agenda between us that is important to both of us. We have a clear understanding of our core concerns and vital security interests.
Pankaj Saran , Indian Ambassador to Russia
Success Stories
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Sibur and Reliance to setup South Asia’s first butyl rubber plant
Sibur, Russia’s largest petrochemical company, formed a JV with Reliance…
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DRDO and NPOM to launch world’s first supersonic cruise missile - Brahmos
A JV was formulated between DRDO India and Joint Stock Companies – ‘Military…
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Russian Steel Company – Plans to manufacture CRGO steel in India
The company is a leading manufacturer of high-quality steel products globally.…
Brochures
Report
India Russia Business Summit Report
Interview
Indian Ambassador Mr. D.B. Venkatesh Varma…
Report
India Investment Grid - Introduction to India…
Event
Eastern Economic Forum, Vladiovostok, 4th - 6…
Event
SPIEF'19, St. Petersburg, 6th - 8th June
Video
India Investment Grid - Video
Sectoral Synergies
Sectoral Synergies
