Recap of SPIEF 2024 Offsite Events in India
Delhi, Mumbai, and Bangalore hosted a series of events as part of preparations for the St. Petersburg International Economic Forum (SPIEF) 2024. The meetings addressed prospects for the development of Russian-Indian economic and humanitarian partnership relations in the context of the Forum. More than 150 representatives from leading Indian companies and media outlets took part in the offsite sessions.
“In 2023, the Republic of India had one of the largest delegations at the SPIEF, and the series of offsite events that was held demonstrated the ongoing trend of growing mutual business interest,” Roscongress Foundation Deputy CEO and SPIEF Director Alexey Valkov said.
The key event was the session ‘SPIEF 2024: Business Cooperation to Improve the Quality of Life’, which took place in Mumbai on 13 December. In addition to Valkov, the speakers included Russian Consul General in Mumbai Alexey Surovtsev, Indian Chamber of International Business President Manpreet Singh, Vice-Consul and Director of the Russian Centre for Science and Culture in Mumbai Yelena Remizova, Khemka Global Managing Director Ashish Khemka, and All India Association of Industries (AIAI) President Vijay Kalantri.
The participants discussed the role that the financial, industrial, and humanitarian sectors play in the innovative development of society and improving the quality of life. During the event, the speakers assessed their contribution to the long-term partnership between Russia and India, and also spoke about the prospects for Russian-Indian cooperation in the new conditions of a global world.
“Interstate relations between Russia and India are based on mutual trust and respect. The Russian-Indian business community and the implementation of joint strategic projects are of paramount importance in expanding cooperation. Today, we see a clear interest from Russian companies in entering the Indian market, as well as the desire of Indian businesses to fill their promising niche in the Russian economy. The potential for mutually beneficial cooperation is extremely high and our job is to maintain the essential conditions for realizing it,” Surovtsev said.
Yelena Remizova cited the development of partnerships in the film industry as a good example of Russian-Indian cooperation in humanitarian affairs. More and more Russian and Indian companies are looking at options for joint film production. Over the past two years, Indian producers have shown increasing interest in Russia, while in India, public interest in Russian cinema has historically and traditionally been at a high level. This situation helps to continue the policy of expanding intercultural ties between Russia and India.
“Russian-Indian cooperation in the industrial complex above all involves the mutually beneficial exchange of technologies. We see great potential for developing partnerships between industrial companies in Russia and India. Today, it is crucial to learn from experience not only in terms of the approach to doing business and automating processes, but also in matters concerning social support for the population of the territories where industrial companies operate. One of the platforms for discussion and cooperation between Russian-Indian industrial business is the St. Petersburg International Economic Forum, which is annually attended by industry leaders and key regional players,” Kalantri said.
The meeting participants also discussed opportunities for expanding logistics relations between Russia and India. In the current conditions, there are two main logistics routes: the Delhi–Moscow air corridor and sea transport corridors, via which ships deliver trade cargo to the ports of Vladivostok, Novosibirsk, and St. Petersburg.
“Establishing an Indian-Russian communication space enables our countries to create integrated business projects that mutually benefit each of the parties. This position serves to not only strengthen relations, but to also significantly promote Indian manufacturers. The opportunities offered by the SPIEF help to expand interstate contacts, increase trade volume, and strengthen the strategic nature of Russian-Indian relations,” Singh said.
The St. Petersburg International Economic Forum is an annual economic business event that has been held in St. Petersburg since 1997. The Forum participants include heads of state and government, political leaders, ministers, and CEOs of major Russian and foreign companies, as well as small and medium-sized businesses. The SPIEF 2024 will take place on 5–8 June.