23 March 2004 01:35
Russian SME Team Exploring Biz Opportunities In India
The small and medium enterprises (SMEs) organisation of Russia ‘OPORA ROSSII’ is bringing a high-level delegation to
India to explore business opportunities. Its focus on India comes along with China, Italy and the US where it is looking
for opportunities for its members. ‘OPORA ROSSII’ will be holding business meetings with companies like Tata Tea, Dabur
and Satnam Overseas in the food processing sector, iGate, NIIT, Moser Baer in the business process outsourcing (BPO) and
information technology (IT) segment, Arvind Mills, Pantaloon and KG Denim in textiles, Subros, Sona Kyo in the
automobile accillary segment and Cadila Healthcare and Asian Heart Institute in the pharma sector. While the BPO issue
is already heated up in the US and Europe, Russian companies are keen to explore the business opportunity in the BPO
space as well apart from sectors like the auto components, food processing, IT, telecom, pharmaceuticals and
biotechnology and construction. A ‘OPORA ROSSII’ (which means ‘support of Russia) delegation will be on a seven-day
visit from March 23 in response to the PM’s visit to that country earlier in November, 2003. Sanjiv Kohli, counsellor
(commercial & HOC), Embassy of India, told FE from Moscow over phone that ‘OPORA ROSSII’ was a one and a half-year
old organisation promoting SME business in countries like China, Italy and the US. After the organisation visited China,
a 150-member strong Chinese business delegation visited Russia to build business linkages. During the PM’s visit to
Russia, the Federation of Indian Chambers of Commerce and Industry (Ficci) and ‘OPORA ROSSII’ had entered into an
agreement of co-operation to strengthen business ties between the two nations. "Russia’s small and medium
enterprises are vying for business ties with some of the medium and large Indian corporates," a Ficci official told
FE. "Although formed only a few years ago, OPORA ROSSII has gained the stature of a national-level organisation and
is in the forefront and cutting-edge of Russia’s concerted effort to build and efficient and rational economy in
particular, with a modern manufacturing sector, and diversified capability going beyond Russia’s narrow dependence on
natural resources," Mr Kohli said. OPORA ROSSII president Sergei Borisov will be leading the delegation and will be
meeting a number of secretaries in various ministries, the Ficci official added. As compared to Indian SMEs, OPORA
ROSSII members are more capital intensive and large by our standards with investments as high as $100 million. They were
heading businesses which are large in the Indian context, said Mr Kohli.
[Financial Express] |
RUSSIA IN FACTS
