PIB Press Releases

Shri Rajiv Pratap Rudy, Minister of State for Commerce & Industry, today inaugurated "Indian Trade Exhibition 2003", which is being organised by India Trade Promotion Organisation (ITPO), in Moscow. Shri Rudy said that this Exhibition would offer a unique opportunity for the trading communities from not only Russia but also other CIS countries to enter into business agreements with their Indian counterparts. The 5-day exhibition (February 17-21, 2003), being held after a gap of eight years is focussing on Karnataka, as partner State and Gujarat.

Shri Rudy urged the business community of both the countries to use this event as a platform to not only develop and promote bilateral trade relations but also long term investment. The bilateral trade in the year 2001-02 was of the order of US $ 1330.66 million of which Indian exports to Russia were US $ 794.13 million. More than 200 leading Indian firms are participating in the Show with its focus on value-added manufactured products and services apart from the traditional merchandise. Shri Rudy congratulated ITPO for mounting a Fair of such magnitude and hoped that it would provide an appropriate environment for intensive commercial interactions.

The display profile at the Exhibition covers a wide range of items from engineering, IT and bio-technology, plastic, ceramic and allied products, rubber, agriculture, dyes and intermediates, chemicals and pharmaceuticals sectors to gems and jewellery, processed foods & beverages, textiles, jute, coir, silks, woolens, herbals and ayurvedic products. Educational, banking, power and financial services besides tourism will be among the services sector to be highlighted at the Exhibition. The event is significant at a time when both the countries have accorded the highest priority to enhancement of bilateral trade relations particularly in the context of the visit of the Prime Minister of India to Russia and more recently by the President of Russia to India in early December 2002.