August 17, 2026 10:35 am (IST)
Follow us:
EEPC India aims to boost bilateral trade with Russia
New Delhi, Jun 22 (IBNS): EEPC India, a premier trade and investment promotion organisation and India Brand Equity Foundation (IBEF) will jointly represent the country at the flagship Russian engineering and technology event, INNOPROM, to be held in Ekaterinburg (in the Sverdlovsk region located at the strategic Euroasian border) between July 11 and 14, 2016.
India is a partner country at this international industrial fair, which will host 600 companies from 70 countries.
EEPC India, sponsored by the Ministry of Commerce & Industry, Government of India, caters to the Indian engineering sector.
In 2015-16, India's engineering exports to Russia fell by nearly 50 per cent, said EEPC India in a recent release. Indian engineering exports, which amounted to USD 744 million in 2014-15, dropped to USD 355 million (for April-February) as the Russian economy was hit by a decline in crude oil prices.
The Russian economy is heavily dependent on export of crude oil.
But with the turnaround in crude oil prices and its positive impact on oil producing nations, EEPC India expects that this is a good time to reverse the declining trend in business among the two countries.
The industrial fair is an opportunity for India to showcase its investment potential and trade possibilities as the fastest growing economy in the world, believes EEPC India.
According to EEPC India Chairman T S Bhasin, “With a turnaround in oil prices, the Russian economy is bound to pick up this year and India would like to take advantage of the same. We need to be pretty aggressive in pushing our best foot forward,”.
He also said that besides pushing for bilateral merchandise trade, India will also make an effort to attract Russian investment into manufacturing under the ‘Make in India’ flagship programme of the Union government .
In the previous edition of the ‘INNOPROM’, the Partner Country status had gone to China.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Mahindra launches BLAZO i-TRK: All details inside
Sun, Aug 16 2026
Reliance Industries, Rolls-Royce join hands to explore indigenous engine for India’s AMCA fighter
Sat, Aug 15 2026
BSNL’s Independence Day gift: Re 1 Recharge, 412-Day Plan and 500 Free TV Channels. Check now
Sat, Aug 15 2026
Emami’s big snack bet: ₹750 crore investment, new WeMe brand targets ₹1,000 crore in 3-5 years
Sat, Aug 15 2026
HCG Q1 results: Cancer care major posts 190% jump in adjusted profit, revenue rises 13%
Fri, Aug 14 2026
Big relief for Zee Entertainment: SAT allows warrants issue, dividend access despite SEBI ban
Fri, Aug 14 2026
Olectra Greentech Q1 shocker: Revenue soars 66%, profit barely moves; shares crash 4%
Fri, Aug 14 2026
Red Friday on Dalal Street: Sensex plunges 300 points, Nifty slides amid geopolitical tensions
Fri, Aug 14 2026
Tata Motors shares jump 6% after Q1 profit soars 83% to ₹2,560 crore
Thu, Aug 13 2026