EAEU – India: Towards a Strategic Partnership

June 1st, 2017 a business breakfeast “EAEU – India: Towards a Strategic Partnership” was held as part of the SPIEF 2017. The event was attended by Jurij Kofner, director, Center for Eurasian Studies.

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Economic ties between Eurasian Economic Union (EAEU) member states and the Republic of India have a long history and solid foundations. The strategic partnership that exists between the two sides is enabling comprehensive trade relations to be developed. This event represents an opportunity for a direct dialogue, through which current issues in and prospects for economic collaboration can be examined, together with steps to achieve optimal conditions for further development, particularly against a background of trade liberalization that is opening up new business opportunities. Consolidated, practical proposals for increasing economic integration on the basis of predictable and long-term regulations can also be formulated. Suggested topics for discussion in this context include trade regulation, standardization of administrative procedures, removal of trade barriers, support for trade and investment flows, and cooperation in technology and manufacturing. Business enterprise and its practical and ever-increasing demand for the development of an effective market which functions according to clear rules form the basic foundation for the creation of a high-quality business environment.

The participants of the business breakfeast were: 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. Panellists: Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry of the Republic of India; Shri Deepak Bagla, Managing Director, Chief Executive Officer, Invest India; Arundhati Bhattacharya, Chairman of the Board of Directors, State Bank of India; Igor Bogachev, Vice President, Executive Director of Information Technologies Cluster, Skolkovo Foundation; Atul Chaturvedi, Additional Secretary, Department of Industrial Policy and Promotion, Minister of State for Commerce and Industry of the Republic of India; Ram Upendra Das, Head and Professor, Centre for Regional Trade, Indian Institute of Foreign Trade; Shobana Kamineni, President, Confederation of Indian Industry (CII); Executive Vice Chairperson, Apollo Hospitals; Hemant Kanoria, Chairman, Managing Director, Srei Infrastructure Finance Limited; Viktor Khristenko, President, Business Council, Eurasian Economic Union (EAEU); Rajiv Indravadan Modi, Chairman, Managing Director, Cadila Pharmaceuticals; Veronika Nikishina, Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission; Alexander Osipov, First Deputy Minister for the Development of the Russian Far East; K.M. Singh, Chairman, Managing Director, NHPC Limited.

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Highlights

There are important factors about collaboration between EAEU and India: rate structure related to the agricultural products, import, export, and phytosanitary measures”.

CHANDRAJIT BANERJEE
Director General, Confederation of Indian Industry

Free trade could become a very significant driver for Indian economic development”.

VERONIKA NIKISHINA
Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission

Creating a free trade area is a highly topical subject. Lifting barriers, relaxing conditions for market entry and opening up certain markets will improve the cooperation and trade turnover between Russia and India”.

VIKTOR KHRISTENKO
President, Business Council, Eurasian Economic Union (EAEU)

We must strive to find something new in Indo-Eurasian relations that would shape the image of tomorrow. There are at least two such things: the infrastructure and digital transformation”.

VIKTOR KHRISTENKO
President, Business Council, Eurasian Economic Union (EAEU)

On both sides, import and export should be easy so it is important to build the corridors that will lead not only to trade profit increase but also to transport cost decrease”.

RAMESH ABHISHEK
Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry of the Republic of India

For Russian exports, India is a priority market with a huge and yet untapped potential”.

NIKITA GUSAKOV
member of the board, managing director, Export Insurance Agency of Russia

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