By NNN-PTI
New Delhi : Amid keen interest in India and Russia to enhance two-way trade, a bilateral chamber of commerce was formed to facilitate increased interaction between the businesses of the two countries.
The India-Russia Chamber of Commerce, which will act as a “bridge” between business communities of the two countries, was inaugurated here by Russian Deputy Prime Minister Alexander Zhukov on Tuesday.
It will facilitate contacts and promote greater understanding of the business climate in both India and Russia.
The chamber will work towards establishing close working relations with economic ministries in India, other chambers of commerce and a cross-section of Indian business and industrial houses.
At the Russian end, the chamber will develop ties with parallel organisations to keep Russian entities informed of Indian market conditions and emerging opportunities.
The chamber aims at correcting the situation with regard to bilateral trade which is below potential, convener of the India-Russia Chamber Pripuran Singh Haer said.
“The motivation behind the above initiative was provided by the present level of bilateral trade, which is seen to be well below its potential,” he said.
The initiative seeks to fill the gap of not having a chamber dedicated to a prominent trading partner of India like Russia.