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Indian, Russian women vow to boost trade

Vladimir Radyuhin

Chain store of Indian goods to be reopened in Russia; FLO delegation meets its counterparts

MOSCOW: Russian and Indian business women have taken up the responsibility of boosting trade between the two countries.

"I am convinced we can multiply trade between India and Russia by 300-400 times by joining our efforts to tap the tremendous potential for bilateral trade," said Ms. Mukta Nandini Jain, President of the FICCI Ladies Organisation (FLO).

Ms. Jain, who is leading a 20-member delegation of Indian business women on their first visit to Russia, said there was no reason why Indo-Russian trade, stagnant at about $2 billion for more than a decade, should not grow as big as Russia's trade with China, which crossed $25 billion last year, or India's trade with China, which is projected to touch $20 billion by 2010.

Vast opportunities

"We are aware of the vast opportunities for business in both countries, and we are sure these figures can be achieved if we work in a systematic manner," Ms. Jain told a joint press conference with leaders of Russian business women organisations.

Trilateral format

Agreeing with the FLO head, President of Russian Businesswomen's Association, Tatiana Malyutina, suggested in turn that business women of Russia, India and China start working in a trilateral format.

"There are close business ties between Russia and China, between India and China, so time has come for us to build Russia-India-China ties," Mrs. Malyutina said.

During the press conference, women entrepreneurs of India and Russia resolved to reopen a chain store of Indian goods that operated in the Soviet Union under the name of `Ganga'.

It was also decided that the FLO sign long-term cooperation agreements with the Association of Russian Women Entrepreneurs, which boasts a membership of nearly one lakh, and the Organisation of Russian Businesswomen, which brings together mostly finance experts.

Visiting Austria

Pragmatically mixing business and pleasure, the FLO delegation will do some sightseeing in Moscow and St. Petersburg during their week-long visit to Russia, before flying to Austria on August 18.

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