Engineering units eye Russia

In a bid to boost export of engineering products to Russia, the Engineering Export Promotion Council (EEPC) would be organising the Indian Engineering Exhibition (INDEE) in association with the Petersburg Technical Fair, at St. Petersburg, Russia from 11-14 March 2008.

It would be the 17th INDEE organised by the council and first in Russia. Speaking with the media in the sidelines of a seminar organised by EEPC, Rakesh Shah, chairman of the council said that the exhibition would be an opportunity for Indian engineering exporters to explore Russia's potential as a market.

Vladimir V Lazarev, consul general of Russia in Kolkata said, "Russian economy is on a full swing and Russia is putting great emphasison the development of the small and medium enterprises where organisations like EEPC can play a very important role."

Terming the volume of trade of Russia with India as unsatisfactory, he said that there are potential in sectors like ferrous and non ferrous metals, medicines, meat finished metal products, energy, chemicals etc.

"Only 1 percent of the total export of Russia comes to India and this remains the weakest link in the bilateral relations between the two countries," he said. Currently the engineering exports to Russia accounts to $123.54million, while the total trade volume between two countries stands at $4 billion compared to $40 billion between Russia and China. "We hope to increase the figures to $10 billion in the next 3 years," Lazarev said.