Representatives from all the three co-hosts will be speaking on the occasion. From the government's side, union finance minister Yashwant Singh will give the welcome address and secretary to prime minister NK Singh is expected to give the vote of thanks. CII president Arun Bharat Ram and Ficci president GP Goenka will also welcome the Russian president. The visit is being considered of immense importance for building the Indo-Russian business and trade. Putin's visit is being seen as a stepping stone to the sahpe of things to come in the Indo-Russian trade relations.

The meeting with the Russian president will also have a small exhibition in the form of a walk-through display with as many as 15 top corporates displaying their might. According to sources, Ficci's thrust will be on technology driven sectors like pharmaceuticals, chemicals and biotechnology.

CII on the other hand is expected to focus on engineering.Ficci will constitute working groups in ares like biotechnology, information technology and microelectronics, hysdrocarbon-gas, oil ands coal and metallurgy, mining and material sciences.

The chamber has identified these areas where two countries can ses a lot of business happening. In the It sector, Ficci says that special emphasis has to be given on embedded software in oil refining, core sector production areas and consumer electronics. Further, Ficci says that microelectronics will arise out of the core competency of the Russians in space technology which they are now ready to apply consumer electronics and IT.

The bilateral trade between India and Russian stood at $ 1570.81 million with the balance of trade in favour of India at $ 334.37 million. Trade basket from India includes mainly commodities, tea and leather, and the efforts are on to expand this basket.

Efforts would also be made to increase participation, equity and technological exchange, between the business communities of both the countries.

Ficci and the Chamber of Commerce and Industry of Russian Federation will act as bridges to build confidence and bring together the corporates of bothcountries.

Ficci has also called for focussing on the dollar trade with Russia and said that working groups are being set up for these sectors comprising ten business heads from each country.

The working groups will be constituted during the President's visit and their progress will be monitored every six months. The working groups will meet once a year to plan for the following year of business activity.

Ficci has set a one year time frame to make these working groups functional.