Industry leaders and government officials discuss bilateral trade, technology partnerships and industrial collaboration between India and Russia

World Trade Center Mumbai, in association with All India Association of Industries, organized a Business Mission on Industrial Solutions and Sustainable Development Technologies in collaboration with the Russian Export Center and the Trade Representation of the Russian Federation in India at World Trade Center Mumbai.

The programme brought together Indian and Russian industry leaders, government officials, technology providers and business communities to discuss bilateral trade opportunities, industrial collaboration and technology partnerships.

Shri Adv. Ashish Jaiswal, Hon’ble Minister of State, Government of Maharashtra and MLA, Ramtek Constituency, said Maharashtra is progressing toward becoming a one trillion-dollar economy through industrial growth, infrastructure expansion, manufacturing development and workforce readiness under the Viksit Maharashtra 2047 vision.

“Maharashtra offers immense potential for Russian businesses as long-term partners in this journey of growth. We see significant opportunities to jointly develop technology and industrial clusters with Russian companies in Maharashtra, particularly in green energy, hydrogen and clean technologies,” said Shri Ashish Jaiswal.

He added that Gadchiroli is emerging as a major industrial region supported by mineral resources and improved connectivity, creating opportunities in steel, mining, heavy engineering and manufacturing.

Mr. Ivan Y. Fetisov, Consul General of the Russian Federation in Mumbai, stated that India and Russia continue to maintain stable bilateral relations that support expanding trade partnerships and business cooperation.

Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries, said bilateral trade between India and Russia has crossed USD 68.7 billion. He highlighted opportunities for expanding cooperation in sectors including mining, steel, manufacturing, technology and capital goods.

Dr. Kalantri also stated that India’s long-term economic goals under Viksit Bharat 2047 create opportunities for collaboration with Russia in areas such as technology transfer, joint ventures, investments and advanced manufacturing. He added that both countries are working toward achieving USD 100 billion in bilateral trade by 2030.

Mr. Andrey O. Sobolev, Trade Representative of the Russian Federation in India, said Russia and India are entering a new phase of economic cooperation focused on sustainable development solutions and resilient supply chains, with opportunities in manufacturing, energy, chemicals, pharmaceuticals and IT.

Mr. Mamed Akhmedov, Head of Representative Office of the Russian Export Center in India, said the Mumbai office has supported hundreds of bilateral projects since 2018. According to him, more than 1,200 Russian companies used the center’s support services in 2025, resulting in signed contracts valued at nearly USD 1.4 billion.

The programme also included presentations by Russian companies showcasing industrial technologies and sustainable development solutions across multiple sectors. The event concluded with B2B meetings between Indian and Russian businesses focused on trade partnerships, investments, technology transfer and industrial cooperation.