Russia has opened its first national pavilion in the western Indian city of Navi Mumbai, as Moscow tries to prise open the huge market for its consumer goods amid Western attempts to squeeze its economy.
The ‘Made in Russia’ pavilion, launched by the Russian Export Center (REC), opened Friday in the Belapur Central Business District of Navi Mumbai, the twin city to India’s financial capital Mumbai.
The pavilion will feature products from Russian producers like Makfa, United Confectioners, Tatspirtprom, Miratorg, Afanasy Private Brewery, Fame Label, Wild Siberia, Stashevskoye Bio, and others.
Russian Consul General in Mumbai Ivan Fetisov called it “a landmark event for Russian-Indian relations.”
He said it will enable Russian manufacturers to directly access the vast Indian market, adding “we are moving toward the ambitious goal of increasing trade turnover between our countries to $100 billion.”
India-Russia bilateral trade is now at about $60 billion, but is skewed by the high volume of oil India imports; non-commodity goods make up only about 10% of Russian exports to India.
The pavilion will help Russia change that ratio, by promoting Russian food products, cosmetics, consumer goods, and high-tech solutions to India to increase exports.
REC Managing Director Konstantin Evstyukhin called it “the first stage in deploying comprehensive infrastructure in India for promoting Russian goods.”
“We have begun creating a full-fledged ecosystem for domestic manufacturers to enter one of the world’s most promising markets,” he said, adding “national stores at the largest marketplaces” and “network of branded retail outlets” under the ‘Made in Russia’ brand will follow.
Similar pavilions are already operating in China, Vietnam, Turkey, Saudi Arabia, the UAE, Egypt, and Jordan.