Broadening bilateral trade and economic cooperation is a priority for both India and Russia. Since the Russia–India Strategic Partnership Agreement was signed in October 2000, the relationship between the two countries has expanded in a multitude of areas, including politics, national security, trade, economics, defence, science, technology, and culture. The leaders of the two countries have set a goal of increasing bilateral trade to USD 30 billion by 2025. What are the major trends and characteristics of the economic and trade relationship between Russia and India? Which areas of cooperation should take priority and what measures could be taken to further develop economic relations and encourage diversification?
Moderators Chandrajit Banerjee ,
Director General, Confederation of Indian Industry Sergei Cheryomin ,
Minister, Head of Department for Foreign Economic Activity and International Relations, Moscow City Government; Chairman of the Board, Business Council for Cooperation with India
Chandrajit Banerjee
Director General, Confederation of Indian Industry
Mr Banerjee has been with the CII for over 27 years and has been the Director General, CII since May 2008. As Director General, he is responsible for overall operations of CII. Mr Banerjee is a Post-Graduate (MS) in Economics with specialisation on Economics of Planning and Econometrics from the University of Calcutta. Earlier, he did his Graduation from St. Xavier's College (Calcutta) in Economics (Hons). Mr Banerjee is in various advisory committees of the Government of India. He is the Co-chairman of the Governing Council, Overseas Indian Facilitation Centre (OIFC), a not for profit public private initiative of Ministry of Overseas Indian Affairs (MOIA) and CII, established in 2007. He is a Member of the World Economic Forum’ s Global Agenda Council on India. Mr Banerjee is a Member of the Chief Minister’s Advisory Council, Madhya Pradesh and also a Member of the Board of Governors of Indian Institute of Management (IIM), Ranchi. Mr Banerjee has been honored with the China-India Friendship Award by the Chinese Premier Wen Jiabao for his contributions towards the development of bilateral ties between India and China. Mr Banerjee is also the Secretariat for several bilateral CEOs Forums. These include Forums with Australia, France, Russia, Canada, Malaysia, Indonesia, Myanmar, Japan, Pakistan, South Africa among others.
Sergei Cheryomin
Minister, Head of Department for Foreign Economic Activity and International Relations, Moscow City Government; Chairman of the Board, Business Council for Cooperation with India
Born July 5th , 1963 in Kislovodsk. In 1989 graduated with honors from the Moscow State Institute of International Relations with a specialization in international journalism and completed his postgraduate course at Moscow State University specializing in global economic issues. In 1992, he was an intern at the New York Institute under the Investments and International Accounts Program and in 1993 joined a course for banking specialists at Fairfield University (USA). From 1991 to 2003 Mr. Cheremin headed various banks. In 2004, he was appointed CEO of Moscow Bank of Reconstruction and Development (MBRD). From 2005 to 2009 he acted as the Chairman of the Board of MBRD, he also served as Senior Vice President and Head of External Relations of JSFC Sistema. From 2009 to 2010 — Deputy Chairman of the Board of JSFC Sistema. From 2009— Chairman of the Board of Business Council for Cooperation with India, member of the Russian-Indian Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. November 8th 2010, Mr.Cheremin was appointed Minister of the Moscow City Government, Head of the Moscow City Department for External Economic and International Relations. In 2015 was appointed Deputy Chairman of the Russian-Indian Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
Panellists Ramesh Abhishek ,
Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry of the Republic of India Dmitry Golovanov ,
Chairman of the Management Board, Eximbank of Russia Alexey Likhachev ,
Chief Executive Officer, ROSATOM State Atomic Energy Corporation Pankaj Saran ,
Ambassador Extraordinary and Plenipotentiary of the Republic of India in the Russian Federation Naushad Darius Forbes ,
President, Confederation of Indian Industry; Co-Chairman, Forbes Marshall
Ramesh Abhishek
Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry of the Republic of India
Mr. Abhishek has a Masters Degree in Public Administration from Harvard Kennedy School. He also has a Masters Degree in Business Administration in Finance as well as a Masters Degree in International Relations. He has worked in Bihar in the posts of Divisional Commissioner, Patna and District Magistrate, Patna and East Champaran. In the Government of India, he has been Chairman of the Commodity Derivative Markets Regulator, Forward Markets Commission. During his term, he brought about far-reaching reforms in the regulation of the market. He has also worked in the Ministry of Food Processing Industries, Ministry of Home Affairs and Ministry of Law and Justice. Mr. Abhishek has also worked in the Supreme Court of India as a key Member of the E-Committee that is entrusted with the task of bringing e-Governance in Judiciary. He has also worked in the United Nations in Kosovo as Civil Affairs Officer. He is currently Secretary in the Department of Industrial Policy and Promotion, the key Department which is spearheading key Government initiatives such as Make in India, Start-up India, Ease of Doing Business and Industrial Corridors in the country. Prior to his joining as Secretary, Department of Industrial Policy & Promotion, he was Secretary, Performance Management in the Cabinet Secretariat.
Dmitry Golovanov
Chairman of the Management Board, Eximbank of Russia
1996: graduated from the Financial Academy under the Russian Government in Credit and Finance and gaining a qualification as an Economist. 1988–1994: economist for the Cash-Issue Work Division, economist and Leading Economist in the Economic Analysis Department, Economic Section of the Main Directorate, Central Bank of Russia for the Moscow Region. 1994–1998: Leading Economist and Head of Issue Division, Directorate for Securities, Deputy Director of the Securities Department and Head of the Lending and Investment Department at Unicombank. 1998–1999: Vice-Chairman of the Management Board, Republican Bank. 1999–2014: Board Member and Senior Vice-Chairman of the Management Board, MSP Bank. 2014: Board Member, MIR Plc. 2010–2014: Board Member, LLC Infrastructure Investments RVC.
Alexey Likhachev
Chief Executive Officer, ROSATOM State Atomic Energy Corporation
Alexey Likhachev was born on the 23rd of December, 1962, in Arzamas-75 (Sarov). 1985: the Lobachevsky State University of Gorky, the Radiophysical Department. 1998: Ph.D. in Economics, the Lobachevsky State University of Gorky. 1985 – 1987: Engineer at the Gorky Research Institute of Instrument Engineering. 1987 - 1988: Secretary of the Youth League Committee at the Gorky Research Institute. 1988 – 1992: the Second Secretary, the First Secretary, the Secretary of the Gorky Youth League Committee. 1992 – 2000: Director of Aval, Social and Industrial Insurance Company, Nizhni Novgorod. 2000 – 2007: State Duma Deputy of the Federal Assembly of the Russian Federation, a committee member, Deputy Chairperson of the State Duma Committee of the RF for economic policy, business and tourism. 2007 – 2008: Councilor to the Minister of Economic Development of the Russian Federation. 2008 – 2010: Director of the Joint Department of Analysis and Regulation of Foreign Economic Activity at the Ministry of Economic Development of the Russian Federation. 2010 – 2015: Deputy Minister of Economic Development of the Russian Federation. Since 13 February, 2015, A. Likhachev held the position of the First Deputy Minister of Economic Development of the Russian Federation. Since 5 October, 2016, Alexey Likhachev held the position of the Director General of ROSATOM.
Pankaj Saran
Ambassador Extraordinary and Plenipotentiary of the Republic of India in the Russian Federation
January 2016 Ambassador of India to the Russian Federation, Moscow March 2012 to December 2015 High Commissioner of India to Bangladesh, Dhaka November 2007 to March 2012 Joint Secretary, Prime Minister’s Office October 2005 to October 2007 Joint Secretary, Northern Division dealing with Nepal and Bhutan, Ministry of External Affairs, New Delhi July 2002 to September 2005 Counsellor(Political) & Head of Chancery and Minister (Political), Permanent Mission of India to the United Nations, Geneva June 1999 to June 2002 Counsellor (Political and Commercial), Embassy of India, Cairo August 1995 to June 1999 Deputy Secretary/Director, Prime Minister’s Office March 1994 to July 1995 Deputy Secretary in the Foreign Secretary’s Office, New Delhi August 1992 to February 1994 First Secretary, Embassy of India, Washington D.C. February 1989 to June 1992 Second Secretary/First Secretary, High Commission of India, Dhaka January 1986 to February 1989 Under Secretary, East Europe Division, Ministry of External Affairs, New Delhi January 1984 to January 1986 Third Secretary (Language Trainee)/Second Secretary (Political), Embassy of India, Moscow August 1982 Joined the Indian Foreign Service Education 1980-1982 M.A. Economics, Delhi School of Economics, Delhi University 1977-1980 B.A. (Honours) Economics, Hindu College, Delhi University Interests Tennis, Golf, Bridge and Reading Family Married to Preeti Saran, currently India’s Ambassador to Vietnam, with two sons.
Naushad Darius Forbes
President, Confederation of Indian Industry; Co-Chairman, Forbes Marshall
Naushad Forbes is the Co-Chairman of Forbes Marshall, India's leading Steam Engineering and Control Instrumentation firm. He chairs the Steam Engineering Companies within the group. Naushad was a Lecturer and Consulting Professor at Stanford University from 1987 to 2004 where he developed courses on Technology in Newly Industrializing Countries. He received his Bachelors, Masters and PhD Degrees from Stanford University. Naushad is on the Board of several educational institutions and public companies. Naushad is an active member of CII and has chaired the National Committees on Higher Education, Innovation, Technology and International Business. Dr Naushad Forbes is currently the President of CII.
Narendra Kumar Verma ,
Managing Director, ONGC Videsh Limited Satish Reddy Kallam ,
Chairman of the Management Board, Dr. Reddy's Laboratories
Sergey Kislov ,
President and Chairman, Yug Rusi Agro LLC Rajiv Indravadan Modi ,
Chairman, Managing Director, Cadila Pharmaceuticals Anna Nesterova ,
Founder, Chairman of the Board of Directors, GlobalRus Trade Kishan Pandey ,
Deputy Chief Executive Officer, Chief Risk Officer, Russian Direct Investment Fund (RDIF) Oleg Sienko ,
Chief Executive Officer, Research and Production Corporation Uralvagonzavod JSC Andrey Terebenin ,
Member of the Board, JSFC Sistema Aleksey Fedorov ,
President, The Association of Internet trade Companies
Narendra Kumar Verma
Managing Director, ONGC Videsh Limited
Satish Reddy Kallam
Chairman of the Management Board, Dr. Reddy's Laboratories
Satish Reddy is the Chairman of Dr. Reddy’s Laboratories. He joined the company in 1993 as Executive Director and since thenhas held positions of increasing responsibilities as Managing Director in 1997 and Vice-Chairman & Managing Director in 2013. Satish led the organisation’s transition from a uni-focused manufacturer of active pharmaceutical ingredients (API) to a company that moved up the value-chain with a diverse product portfolio of Finished Dosage Formulations, speciality products and services. He oversaw the expansion and establishing of a strong footprint for Dr. Reddy’s products in Russia, CIS countries and other emerging markets.As an active member of major industry associations and governmental panels, Satish plays a key role in shaping policies concerning the pharmaceutical sector as well as the economy. Satish also drives the organisation’s Corporate Social Responsibility initiatives and is Chairman of The Dr. Reddy’s Foundation.Satish holds a degree in Chemical Engineering from Osmania University, India, and an M.S. in Medicinal Chemistry from Purdue University, USA, where he received the 2009 Distinguished Alumnus Award from the School of Pharmacy and Pharmaceutical Sciences.
Dr Rajiv I Modi joined the Board of Directors at Cadila Laboratories in 1991. In 1995, he restructured the Company and rechristened it Cadila Pharmaceuticals Limited (CADILA PHARMACEUTICALS). Dr Modi actively participates in the proactive development of the state of Gujarat, through the ‘Vibrant Gujarat’ summits. Dr Modi has been the Chairman of CII Gujarat State Council and presently chairs the CII National Committee on Pharma for the year 2015-16. He is also Chairman of Board of Governance of prestigious Indian Institute of Technology (IIT), Guwahati, India. Dr Modi is a member of The New York Academy of Sciences, USA; Genetic Society of America; American Society for Microbiology; Industrial Biotechnology Task Force, New Delhi; Technical Panel on Biotechnology, Gujarat; Indian Chemical Engineer, India and TIFAC. He has also been elected as Fellow of the Indian National Academy of Engineering, New Delhi – an elite academy with prominent industry leaders, academicians and scientists amongst its Fellows. A Ph.D. in Biological Science from the University of Michigan, Ann Arbor, USA, Dr Modi also holds an M.Sc. in Biochemical Engineering from University College, London and a B.Tech. in Chemical Engineering from the Indian Institute of Technology (IIT), Mumbai, India.
Anna Nesterova
Founder, Chairman of the Board of Directors, GlobalRus Trade
Anna Nesterova (PhD) is a public figure and a renowned entrepreneur. She founded a b2b portal in 2015 as a response to the huge demand for such portal by the Russian business and as a solution to the sanctions ban on EU & US trade. Anna has a vast experience of over 15 years in the financial sector. She managed the investment company “Center Capital” in 2008-2017. Prior to this she used to work as the Head of Client Operation at BK Region Ltd. since 2005. She used to work as an economist in AKB “Metallinvestbank” since 2002. Anna Nesterova has been actively involved in public activities too. She is as a member of the Presidium of the General Council of the Russian public organization "Business Russia", as well as the head of the Financial Markets Committee of "Business Russia". She is also a member of the Committee on Securities with fixed income of FB “MMVB”. In 2015 she had been nominated by Russia as 'Woman Icon' for achievements in the field of business in APEC forum "Women as the driving force behind inclusive growth."
Kishan Pandey
Deputy Chief Executive Officer, Chief Risk Officer, Russian Direct Investment Fund (RDIF)
Prior to joining RDIF, Kishan was managing director, international private equity at GE Asset Management. He has over 20 years of investing and financial services experience globally. During his 19 year career at GE he was one of the key senior managers responsible for attracting investment from institutional investors and investing in businesses globally. He also worked at Deutsche Bank and ICRA, a credit rating and investment information company based in India and an affiliate of Moody’s Investors Service. Kishan graduated with honors from the University of Delhi, India. He is a CFA charterholder and also holds certifications as a chartered accountant and a company secretary from India.
Oleg Sienko
Chief Executive Officer, Research and Production Corporation Uralvagonzavod JSC
Oleg Sienko born February 11, 1966 in the Rostov region. Higher Education, graduated from the Inter-Regional Institute of Management degree in economics. Russian State Oil and Gas, IM Gubkin's degree in economics and management at the enterprise. From school years in the business of cycling, world-class athlete. The outcome of achieving remarkable results in cycling was the election of Oleg Sienko in 2008 by President Cycling Federation of Russia. He started his career in 1988 in Irkutsk instructor association "Youth Initiative Irkutsk" Irkutsk city committee of the Komsomol. In the period from 1988 to April 2009 he held executive positions in major oil and gas companies, including the head of the main export arm of Gazprom, Gazprom Export. In April 2009 he was appointed Director General of JSC Scientific Production Corporation Uralvagonzavod. Awarded the Medal of the Order of Merits to the Fatherland (II degree).
Andrey Terebenin
Member of the Board, JSFC Sistema
Andrey was born in 1962. In 1985 Andrey Terebenin graduated from Moscow State University of Foreign Affairs. Subsequently he held management positions at Economicheskaya Gazeta (Economics Gazette), Dun & Bradstreet CIS and AIG Russia. In 2003-2006, he served as General Director and Managing Partner of Communication Holding at R.I.M. Porter Novelli. In 2006-2011 he held the position of Vice President of MTS, Corporate Communications. From May 2011 he has been Vice President of Sistema, Corporate Communications.
Aleksey Fedorov
President, The Association of Internet trade Companies
Born in Leningrad in 1974. Graduated from the St. PetersburgStateUniversity of Aerospace Engineering. Qualification: Engineer, Major: Aviation equipment, measuring and computing devices. In 1993-1997, was employed as correspondent at Radio Rossii in St. Petersburg. In 1997-1998, served as Head of the Directorate for Advertisement, FM-107 Radio Station. In 1996-2006 –Commercial Director of OOO Northwestern Trade House, since 2006 –General Director of the Company. Since 2003 – Managing Partner of GС 220 Volt. Since 2015 – President of The Association of Internet Trade Companies. Alexey Fedorov became one of the TOP-250 best General Directors of Russia in accordance with the rating of Generalny Director Magazine.
“Digital economy is a new paradigm for the development of the state, the economy and society.”
Greetings to participants, organisers, and guests of the
27th St Petersburg International Economic Forum
“For more than a quarter of a century, the Forum has provided an opportunity for politicians, experts, business leaders, academics, and media professionals from around the world to hold in-depth discussions on key economic development trends in Russia and the world. Participants in plenary sessions, roundtables and panel discussions exchange views on ways to promote international cooperation, encourage scientific and technological progress and the development of human capital, and to effectively tackle the challenges we face.
The theme of the current meeting, The Foundations of a Multipolar World – The Formation of New Areas of Growth, is highly relevant and meaningful. A growing part of the international community is in favour of building a just and democratic system of international relations based on the principles of genuine equality, consideration for each other’s legitimate interests, and respect for the cultural and civilisational diversity of nations. It is precisely these principles that underpin the activities of BRICS, which Russia is chairing this year. It is symbolic that the history of this dynamically developing association, whose members already account for more than a third of the global economy, began at the 10th St Petersburg International Economic Forum in 2006.
Our country is open to constructive dialogue and interaction with partners and is ready to work together to address the economic, social, scientific and technological challenges of our time.
I am confident that the Forum will jump-start new and promising initiatives and projects, fostering mutually beneficial cooperation between our countries and peoples.