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India has sought more market access for its products like pharmaceuticals, bovine meat and egg powder in Russia to enhance bilateral trade between the countries.
The issue was raised by Commerce and Industry Minister Anand Sharma yesterday during his meeting with Russian Deputy Prime Minister Dmitry Rogozin and its Industry and Trade Minister Denis Manturov.
Sharma is in St Petersburg to attend the seventh India Russia Forum on Trade and Investment. The visit assumes significance in the light of Prime Minister Manmohan Singh's forthcoming visit to Russia next month.
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"During his meetings, Sharma forcefully pressed for market access for Indian products. Pharmaceutical products figured very high on the agenda. The Indian minister asked for regulatory simplification for supply of Indian generic medicines to Russia," an official statement said.
Sharma said that as Indian pharma companies are keen to establish manufacturing bases in Russia, "it is imperative that Russian government should address their concerns in an expeditious manner."
Further, Sharma highlighted the issues regarding export of bovine meat from India and market access to egg powder.
He said that Russian Federal Service for Veterinary and Phytosanitary Surveillance (FSVPS) may expedite their favorable recommendation so that export of bovine meat and egg powder could begin immediately from India.
"On this, the Russian Minister conveyed Sharma that a review will be taken in October 2013 and hoped that a satisfactory resolution will be formed," it said.
In a renewed thrust to joint manufacturing in hi-tech areas, it said that both the sides have developed a framework for tracking key priority projects at the ministerial level.
The sectors covered under this include automobile, industrial and road-building machinery, chemical & petrochemical industry, civil aircraft, fertilizers, pharmaceuticals, energy, diamonds, IT, automobiles, and agro and processed foods.
It also said that under petrochemical industry, both the sides have expressed satisfaction over the progress made by plant construction unit for manufacturing butyl rubber with capacity of 1,00,000 tons per year at the production site of Reliance Industries in Jamnagar in Gujarat.
"The new complex will be the biggest in India and one of the biggest in the world regarding butyl rubber production," it added.
In early 2010 SIBUR holding, a Russian petrochemical company and Reliance Industries Ltd had signed a MoU regarding establishment of the joint venture for rubber production in India.
The bilateral trade between the two countries stood at $6.52 billion in 2012-13.
