The National Centre 'Russia' made its debut at INNOPROM India with a comprehensive retail showcase featuring Russian consumer goods, regional crafts, and cultural products. According to reports from Business Standard, the exhibition, which took place at Bharat Mandapam on 9-11 September, attracted significant attention from Indian buyers. Natalia Virtuozova, Director General of the National Centre 'Russia', reported that the feedback from visitors exceeded all expectations, stating that the goods brought were highly in demand by Indian customers.
As reported by Business Standard, the Department Store exhibit became the key attraction of the Russian stand, featuring items manufactured by different regions including food products, confectionery, porcelain, crystal, textiles, lace, jewelry and traditional crafts. The limited edition Russian roly-poly doll (nevalyashka) redesigned with Indian culture patterns was the top-seller, manufactured in collaboration with a Tambov-based company. Other popular items included Russian chocolates, Tula gingerbread, clothing with Russian President Vladimir Putin quotations, and traditional regional goods such as porcelain, crystal, lace, chocolate, and marshmallow products.
India and the Eurasian Economic Union (EAEU) are advancing free trade agreement talks with negotiations picking up momentum last week during the BRICS summit and India-Russia Innoprom industrial exposition. As reported by Economic Times, the next round of negotiations is expected to be held in November, ahead of Prime Minister Narendra Modi's Moscow trip for the annual summit. The November round will focus on market access for both sides, with specific tariff decisions to be taken up in future rounds of talks. The proposed FTA with the EAEU, comprising Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation, is expected to unlock untapped trade potential and boost investments.
According to Business Standard, the exhibition brought together over 130 companies from both countries with the aim of improving business contacts and creating joint industrial projects. Ministers of Industry and Trade of Russia – Anton Alikhanov and Minister for Commerce and Industry of India Piyush Goyal attended the exhibition, guided by Virtuozova. The National Centre proposed a two-sided model where Russia would allocate space in Moscow for Indian goods to help Russians get acquainted with Indian brands, building on the popularity of Indian tea, fabrics and cotton products during the Soviet era. With a combined GDP of $6.5 trillion, the proposed FTA is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, and enhance competitiveness against non-market economies.
