SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Apr, 2023  

Food.Processing.9.thmb.jpg 'Delegation to Russia to explore agro and food processing biz opportunities'

   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
FIEO | 26 Apr, 2023
A 50-member delegation of agro and food processing sector is taking part in buyers and sellers’ meetings in Moscow and St Petersburg amidst a massive push to further deepen economic ties that have grown exponentially.

FIEO signed a Memorandum of Understanding (MoU) with Business Russia to promote trade and investments between the two countries. “The two organizations will cooperate to arrange exhibitions, buyers-sellers’ meetings, workshops, seminars and encourage enterprises to work in tandem with their counterparts for joint ventures,” Sahai said.

They are also exploring opportunities in diverse business ventures such as ready-to-eat meals, fish meal, animal feed, soyabean apart from conventional products,” said Mr N K Kagliwal, Board Member of FIEO, who is leading the business delegation.

Kagliwal said that we are looking to increase our agro and processed food exports from about US$ 750 Mn to over US$ 3 Bn in next 3 years.

Citing the rupee-ruble trade mechanism as “moving forward, but the pace is slow”. However, DG & CEO, FIEO is optimistic about its resolution as “exporters, importers and bankers, on both sides, have to do a little extra work to resolve it.

A direct exchange rate between rupee and ruble will help streamline the process in a big way.

Sahai said that “huge trade deficit is a concern, but it is also an opportunity to push exports exponentially. We have to diversify exports to automobiles and auto components, electronics, medical devices, solar cells, textile, food and agriculture etc.”

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter