NEW DELHI, November 4: Indo-Russian trade is poised to cross the $5-billion mark by the turn of the century from $2 billion in 1995-96, according to India's Consul General in St Petersburg SK Ganguly, as briefly reported on Monday. ,Inaugurating a four-day India-Russia Buyer-Seller meet in St Petersburg from October 22-25, Ganguly exhorted Indian businessmen to establish and enhance their presence in Russia which would in the coming years serve as a major gateway for trade with other CIS countries as also with the European Union.

The event organised by the Federation of Indian Organisations was supported by the chambers of commerce and industry of the Russian Federation and the chambers of commerce and industry of St Petersburg. It also had the support of the Indian embassy in Moscow and the Consul General of India at St Petersburg.

More than 15 Indian companies participated in the multi-product event. The exhibition displayed a wide range of quality goods comprising surgical items, video games software, readymade garments, knitwear, agro products, furnishing, fabrics, processed food, leather goods, consumer durables, industrial alcohol, oil, soaps, detergents, cosmetics, toiletries, rice, pulses etc.

India is also exploring cheaper export routes to Russia to double the trade between the two countries, according Ganguly. `Cheaper routes of exports like the sea route from Mumbai and Bandar Abbas in Iran and further by rail or roadways into Central Asian countries are being explored' he said.Trade between New Delhi and Moscow was expected to cross five $ 5 billion b y the turn of the century from the present $ 2 billion through exploration of new routes, he said. It was imperative for Indian industries to establish and enhance their presence in Russia, which was likely to serve as gateway for trade with other Commonwealth of Independent States (CIS) countries. Russian market has become quality consciuus and Indian exporters should ensure that best of the products and services were offered to it, he said.

Ganguly while speaking on the prospects of the meet said it would generate sufficient business enquiries while giving Indian exporters an exposure to changing trade scenario in the Russian federation. Indian government was laying special emphasis on promoting exports of quality goods to Russia, which would also be extended consultancy services in infrastructure development, tourism, computer software, development and training of personnel, he said.

Vice-President of St Petersburg chamber of commerce Tatiana S Avetikayan said Russia was looking forward to supply of consumer and industrial goods from India.

Director of India-CIS chamber of commerce and industry HS Nanda said Russian markets offered tremendous potential for Indian goods but export basket needs to be diversified to include non-traditional items.

According to a Fieo release, business to the tune of around $ 9 million was generated. Enquiries were received for leather products, rice, tea, leather jackets, ion exchange resin, waste water treatment system, surgical items etc.

With the overwhelming response at the exhibition, one of the participating firms proposes to open a liaison office in the Russian Federation, while another, Rampur Distilleris, has signed a huge contract with Mashoptorg, a multinational based in St Petersburg. Good response was also received by Goodwill Enterprises, Afro Arts, AOV Internationals, Foray International Ltd, SA Overseas, Knocherry Coir Factories.

M P Oils Federation, a state-owned organisation, also received business enquiries for soyabean products and rape extraction and it is expected to build up a significance presence in the Russian market.

According to Fieo, there is an urgent need to project Indian products and services in a big way through the visual media. Fieo may therefore consider organising audio visual road shows in Russian language for screening different expositions and also on Russian TV.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.