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Indian business upbeat about Russian markets

Indian business was upbeat about the Russian consumer market and fetched orders worth Rs 132.5 million in the just concluded international exhibition in Moscow, resident director of Indian Trade Promotion Organisation Naval Sethi said.

"It was for the first time since 1998 financial meltdown that India made a modest return to Moscow's most prestigious international consumer expo held on January 15-19," Sethi said.

ITPO had organised participation of several Indian companies trading in consumer items as well as Tea Board and Indian Tourist Development Office in "Consumexpo-2001".

However, Small Industries Development Organisation, under whom over 20 Indian firms had sent their exhibits, suffered a great blow when the customs authorities refused to accept 'Ata Carnet', an international document for simplified procedures for exhibitors and demanded a deposit of $10,000 for their clearance, director of Indian Expo A K Khanna said.

ITPO is the sole authority in India issuing 'Ata Carnet' to Indian exhibitors recognised globally, but the Russian customs refused to accept it.

"SIDO team had no ready cash and even Indian embassy's bond was not acceptable to Russian customs," Khanna said.

However, most of the Indian participants expressed desire to bring even bigger range of products at the next exhibition in Moscow.

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