Cooperation with Russia enables India to mitigate risks amid global challenges — FIEO

NEW DELHI, April 21. /TASS/. The interaction with Russia opens enormous opportunities for the foreign economic operations of India and enables mitigation of risks against the background of recent global challenges, said Ajay Sahai, the Director General of the Federation of Indian Export Organizations (FIEO). "Russia is offering India huge opportunity. There are challenges, but then the benefit which is available to Indian exporters in Russia far outweigh the challenges," Sahai said. "Russia provide India an option to diversify, and the risk from the global challenges being faced by exporters across the world," he noted. Russia and India need to develop the trade partnership to deepen investment ties, the director general said. "We have seen that Russia has keen interest, not only in the existing sector, which includes logistics, banking, railway, petrochemicals and oil and gas sector, but they are also showing interest in number of our new sectors, also including ship repairing, ship building, ocean exploration, green shipping, mobility" and even creation of centers of global competence, Sahai noted. India also needs to look at an opportunity of creating an export hub in Russia, he said. "India can supply certain manufacture goods and Russia serves as a gateway to Eurasian market," Sahai added.