The event was attended by professors from RANEPA Institute of Business Studies (IBS-Moscow) and representatives of Woxsen University, India. The discussion focused on cooperation in business education and the creation of the Russian-Indian Center.
Both Russian and Indian participants reaffirmed their respective countries’ interests in enhancing Russian-Indian business cooperation. Strong and versatile ties between the two countries were established during the Soviet era, but they have received new impetus in today's conditions.
By 2025, Russia and India intend to increase mutual investment to $50 billion and bilateral trade, to $30 billion, respectively. The mutual interests of Russian and Indian businesses are as diverse as possible.
At present, India is the second-largest market for the Russian defense industry. In 2017, approximately 68% of India's military equipment imports came from Russia, which effectively became India’s main supplier of defense equipment. India's policy to achieve self-sufficiency in defense requires the use of advanced technologies that India does not possess at this stage, for example, in aviation. This can be another promising platform for expanding ties with Russia.
According to experts, other promising areas for cooperation include pharmacology, internet technologies, exchange of knowledge, trade and investment, road transport, and oil and gas. The roundtable participants also mentioned deep-sea diving and space technologies.
“The exchange of knowledge continues on a large scale between the two universities. There are many opportunities for cross-program collaboration. For example, business simulation games can be implemented in which Russian and Indian students can compete. This can be great, because they can benefit from an exchange of knowledge in different areas while working in cross-teams. This can be used in bachelor’s programs as well as in MBA and EMBA. Such programs, IBS RANEPA training modules, will be extremely interesting and useful for Indian students,” said Dmitry Dmitriyev, lecturer in Marketing and Sales, IBS-Moscow.