To help Indian businesses, keen on the Russian market, have a better understanding of the business and cultural environment of the country, Business Russia, an all-Russia public sector body representing local businesses, is organising an online session on cross-cultural communication including legal aspects and societal mindsets.
“The Indian Embassy in Moscow has got in touch with various export bodies in India informing them about the unique opportunity to have a better understanding of the country to enable exporters to improve their business prospects in Russia,” an industry source tracking the matter told businessline.
The session on `Business communication and cross-cultural interaction with partners from Russia’ is scheduled for December 6 and the main speaker will be Olga Kulikova – Business Ambassador (India), Business Russia.
The programme is especially significant for Indian exporters as both India and Russia are making efforts to increase Indian exports to the country to bridge the massive trade gap. The success of the India-Russia rupee trade mechanism, put in place by the two to circumvent economic sanctions by the Western countries on Moscow, partly hinges on lowering of the bilateral trade deficit.
India’s imports from Russia in 2022-23, mainly comprising crude oil, were valued at $46.21 billion, while its exported goods worth $3.15 billion to the country ledl to a trade deficit of about $43 billion
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“The scheduled online session is aimed to create awareness on aspects of the Russian business environment such as law, mindset and culture that play a pivotal role in the enhancement of trade relations between the nations. This initiative shall be beneficial for member companies having existing business operations in Russia and the ones who plan to expand their business operations in the region,” per a communication circulated by an export body to its members.
Business Russia, founded in 2001, includes more than 7000 SMEs, represents the interests of local industry leaders, and facilitates international trade by establishing dialogues between state executive bodies and the business communities around the globe.