India–Russia Business Ties Strengthen with Leningrad Region Delegation Visit
Focus on localized production, market access, and technology sharing to bridge trade gap
POSTED BY:- Poonam S. Juthani
DT:-11/09/2026
9867490397
Mumbai, September 2026 — A 12-member business delegation from the Leningrad Region of Russia visited MVIRDC World Trade Center Mumbai, signaling renewed intent to deepen bilateral trade and technology cooperation with India. The delegation represented sectors including pharmaceuticals, fertilizers, waste-to-energy, logistics, and manufacturing, and engaged with Indian MSMEs to explore opportunities for collaboration.
Russian Perspective: Diversifying Trade with India
Mrs. Olga Kulikova, Business Ambassador to India, Business Russia Public Organization, emphasized the growing interest among Russian enterprises in Indian products: “There is a renewed interest among Russian enterprises in Indian products, reflecting a broader effort to diversify bilateral trade. Greater awareness of India’s competitiveness compared to markets such as China and Southeast Asia can help bridge the trade gap.”
She highlighted the critical role of trade service organizations like World Trade Center Mumbai in connecting businesses and creating new commercial opportunities.
Industrial Strengths of Leningrad Region
Mr. Alexey Chernukhin, Director, Korchega, Leningrad Region, noted: “The Leningrad Region offers strong industrial capabilities, modern infrastructure, and excellent connectivity through St. Petersburg and its ports. We see considerable potential not only for trade, but also for technology cooperation, localization, and long-term business partnerships between companies from India and the Leningrad Region.”
India’s Position: Addressing Trade Imbalance
Welcoming the delegation, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and President, All India Association of Industries (AIAI), acknowledged the longstanding India–Russia relationship but pointed to the trade imbalance of nearly USD 55 billion: “We need to decrease this imbalance by focusing on joint ventures, technology sharing, innovative trade settlement mechanisms, and complementing capabilities in sectors like defense production and advanced manufacturing. With Russia’s defense technology, India could be a launchpad to boost exports globally.”
He further added that India’s 7.8% quarterly economic growth and cordial relations with major economies make it an attractive destination for Russian investment. India’s emergence as a quality supplier of pharmaceuticals, electronics, textiles, and gems and jewellery — often outpacing Chinese products — presents opportunities for Russian enterprises to fill the trade deficit gap.
Commitment to Collaboration
Presenting the vote of thanks, Capt. Somesh Batra, Vice Chairman, MVIRDC World Trade Center Mumbai, reiterated: “India and Russia share a longstanding relationship, and the next step should be to translate this goodwill into greater business collaboration. We see opportunities in specialised machinery, agriculture, organic fertilizers, pharmaceuticals, logistics, and several other sectors represented.”
Conclusion
The interactive session underscored the mutual intent to strengthen India–Russia economic ties through localized production, market access, and technology sharing. With Russia’s industrial strengths and India’s growing global competitiveness, both sides see significant potential for joint ventures, technology transfer, and long-term partnerships.
The visit of the Leningrad Region delegation marks another step toward bridging the trade gap and building a sustainable, balanced, and future-ready partnership between India and Russia.
For Further Details: Ms. Priya Pansare Senior Director, Trade, Investment and International Relations MVIRDC World Trade Center, Mumbai
