Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai & President of All India Association of Industries signing a significant Memorandum of Understanding at the India–Russia Business Forum
Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai & President of All India Association of Industries signing a significant Memorandum of Understanding at the India–Russia Business Forum
The Memorandum of Understanding (MoU) between World Trade Centre Mumbai (WTC Mumbai) and Business Russia (Delovaya Rossiya) was formally signed on December 5, 2025, during the 23rd India–Russia Annual Summit held in New Delhi. The MoU was signed by Dr. Vijay Kalantri, Chairman of WTC Mumbai, and Mr. Alexey Repik, Chairman of
Business Russia. This agreement marks a significant milestone in strengthening bilateral engagement between India and Russia, particularly in the areas of trade, industry, and private-sector collaboration.
WTC Mumbai stands as India’s leading international trade promotion institution, dedicated to fostering global partnerships, promoting investment, and enhancing business connectivity. Business Russia (Delovaya Rossiya), on the other hand, represents Russia’s foremost community of entrepreneurs and industrial leaders working to enhance private-sector development and international economic cooperation. By joining hands, both institutions aim to foster deeper collaboration aligned with the longstanding Special and Privileged Strategic Partnership between India and Russia.
Under the MoU, both parties will establish, maintain, and encourage structured contact between organisations, companies, and entrepreneurs in the Republic of India and the Russian Federation. The shared objective is to promote economic growth, enhance industry linkages, and expand business opportunities across both markets. The partnership seeks to support Indian companies in their trade and investment activities in Russia, while creating reciprocal opportunities for Russian enterprises in India.
The parties will make their best efforts to expand cooperation across a broad spectrum of areas, including trade, economic engagement, investment promotion, technical knowledge-sharing, and scientific collaboration. This includes, without limitation, the creation of conducive conditions for active and effective participation of enterprises from both countries in exhibitions, trade fairs, delegations, business forums, and other promotional and informative events held in India and Russia.
As part of the cooperation framework, WTC Mumbai and Business Russia will also hold regular consultations on current and emerging areas of bilateral collaboration. These dialogues will help identify and address factors that may be restraining the growth of trade and investment between India and Russia. Through this proactive engagement, both parties will work towards developing actionable proposals to eliminate barriers, streamline processes, and unlock new avenues of partnership.
Overall, the MoU reinforces the shared commitment of India and Russia to deepen economic engagement, promote innovation-driven industrial cooperation, and strengthen long-term business ties between their respective private sectors.