India-Russia Relation / Russia made a big offer to India after selling cheap oil, this is a big opportunity for Indian companies!

India-Russia Relation: There are international sanctions on Russia amid the war between Russia and Ukraine. At such a time, Russia has sold oil to India at cheap prices. Russia, which is selling cheap oil, has now given another big offer to its friend India. This proposal can be a big opportunity for Indian companies. Russia has offered Indian companies to take over the businesses left by Russian companies. In fact, due to the war with Ukraine, many American and European companies have stopped their business in Russia. In such a situation, Russia's intention is that Indian companies should take over the business left by these companies.

According to a report in an English newspaper, Russia has shown keen interest in giving the businesses left by American and European companies to Indian companies. Russia wants Indian corporates to take advantage of the St. Petersburg International Economic Forum to make this deal and establish themselves in the fastest growing European economy. This forum will be organized between 5 to 8 June 2024.

American companies closed business in Russia

In fact, many western countries including America have supported Ukraine in the ongoing war between Russia and Ukraine. Many western countries are imposing economic sanctions on Russia to weaken the Russian economy. Alexey Valkov, deputy director of the Roscongress Foundation and director of SPIEF, says that there are many businesses that European and American companies have abandoned due to pressure from their governments. The big thing is that Chinese companies are also ready to take it over.

In which areas Indian investors may be interested?

Alexey Valkov further said that there are many sectors like automotive, transportation, textiles and light industry, which will be of interest to Indian investors and companies. He also said that it would not be right to talk about commercial interests, but our trade with India in traditional sectors is currently growing.

Discussions will also be held on Russia-India Business Forum

Commenting on the St. Petersburg International Economic Forum, Valkov said that the platform will provide an opportunity for equal interaction between parties interested in developing mutually beneficial relations. St. Petersburg is geographically located between three continents, so it will provide a unique opportunity to do business not only in Russia, but also to expand opportunities around the world. Talks will be held on the Russia-India Business Forum on June 5, the first day of the event.