The signing of the Memorandum of the Russian-Indian Trade House during the Russian Industrialist 2025 Forum in St. Petersburg marks a major milestone in the growing economic partnership between Russia and India. The new initiative, formed under the Union of International Trade Houses, expands the Union’s global network, which already includes trade houses in Vietnam, Mongolia, China, Cambodia, and Thailand. India now joins this dynamic alliance aimed at deepening international trade and cooperation.
The memorandum was formally signed by Mr. Roman Malinovsky, President, Union of International Trade Houses, and Mr. Prashant Chaudhary, who has been appointed as the President of the Russian-Indian Trade House. Headquartered in Delhi, the new Trade House will act as a pivotal institution to promote bilateral trade, investment, tourism, technology exchange, and workforce collaboration between the two nations.
Speaking on the occasion, Mr. Prashant Chaudhary emphasised the significance of this development: “India and Russia have shared a strong foundation of trust and partnership for decades. The establishment of the Russian-Indian Trade House represents a new era of opportunity—one that will empower businesses from both sides to connect, collaborate, and grow together. Our focus will be on creating a seamless ecosystem for trade, technology exchange, and skill development that benefits both economies.”
Mr. Roman Malinovsky added: “We are confident that under Mr. Chaudhary’s leadership, this initiative will further strengthen economic ties and open new pathways for cooperation.”
In 2024, bilateral trade between Russia and India surpassed USD 70 billion, achieving a record high. With the creation of the Russian-Indian Trade House, both countries aim to further expand cooperation in energy, manufacturing, agriculture, pharmaceuticals, and services. To facilitate connectivity and engagement, a bilingual digital platform of the Trade House will soon be launched, offering businesses a dedicated channel for partnership inquiries, export promotion, and trade facilitation.
The establishment of the Russian-Indian Trade House symbolises a forward-looking partnership—one that reinforces the shared commitment of both nations to drive mutual economic growth and long-term collaboration.