New Delhi: In a bid to further boost bilateral trade between India and Russia, the Federation of Indian Export Organisations (FIEO) is gearing up to participate in the 'MITEX International Tools Expo 2025', scheduled to be held in Moscow from November 11-14, according to a statement issued on Monday. The Indian delegation to 'MITEX 2025' will be led by FIEO president S.C. Ralhan, accompanied by Ajay Sahai, Director General and CEO, FIEO.
Speaking about India's participation, Ralhan said, “Russia has been an important business partner for India, and the engineering and tools sector presents significant potential for collaboration. Our engineering exports to Russia is growing rapidly and expected to reach $1.75 billion this year". "Our participation at 'MITEX' aims to deepen commercial ties and promote Indian manufacturing excellence in the Russian market, thereby further helping in boosting bilateral trade between both the nations," he mentioned.
Under the 'FIEO India Pavilion', over 20 Indian companies are expected to showcase a wide spectrum of products including hand tools, engineering goods, industrial hardware, machinery parts, fasteners and related industrial solutions. "The pavilion will be located in Hall 5, highlighting India’s growing manufacturing strength and its expanding role as a reliable supplier to global industrial value chains," according to the FIEO statement.
On the sidelines of the visit, the Embassy of India in Moscow, in collaboration with Department of Commerce, Government of India, FIEO and the International Chamber of Commerce (ICC), will organise B2B meetings between Indian exporters and Russian industry representatives to facilitate trade partnerships, joint ventures, and market linkages, the statement added. Bilateral trade between India and Russia reached a record high of $68.7 billion in FY2024-25, nearly 5.8 times higher than the pre-pandemic trade of $10.1 billion.
It comprises India’s exports worth $4.88 billion and imports from Russia amounting to $63.84 billion. Key Indian exports include agri-products (fish, shrimp, rice, tobacco, tea, coffee, grapes), chemical products, pharmaceuticals, iron and steel, ceramic products, aeroplane components, machinery, glass and glassware, clothing and knitwear, leather goods, rubber articles, electrical machinery and surgical tools.
Major imports from Russia are dominated by oil and petroleum product, fertilisers, bituminous substances, mineral fuels, mineral waxes, machinery, equipment, precious metals and stones, wood, pulp and paper products, metals and vegetable oils. Both sides expect to reach the bilateral trade target of $100 billion by 2030.
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