New Delhi, Nov 10 (NationPress) In an effort to enhance bilateral trade between India and Russia, the Federation of Indian Export Organisations (FIEO) is preparing to take part in the 'MITEX International Tools Expo 2025', set to occur in Moscow from November 11-14, as stated on Monday.

The Indian delegation at 'MITEX 2025' will be spearheaded by FIEO president S.C. Ralhan, alongside Ajay Sahai, Director General and CEO of FIEO.

Commenting on India’s involvement, Ralhan noted, “Russia has been a significant business ally for India, and the engineering and tools sector offers substantial opportunities for collaboration. Our engineering exports to Russia are on a rapid rise and are projected to hit $1.75 billion this year.”

“Our engagement at 'MITEX' aims to strengthen commercial relationships and showcase Indian manufacturing prowess in the Russian market, thereby further enhancing bilateral trade between our nations,” he added.

Within the 'FIEO India Pavilion', over 20 Indian companies are anticipated to display a diverse range of products, including hand tools, engineering goods, industrial hardware, machinery parts, fasteners, and other related industrial solutions.

“The pavilion will be situated in Hall 5, emphasizing India’s growing manufacturing capabilities and its expanding role as a dependable supplier to global industrial value chains,” the FIEO statement indicated.

During the visit, the Embassy of India in Moscow, in partnership with the Department of Commerce, Government of India, FIEO, and the International Chamber of Commerce (ICC), will arrange B2B meetings between Indian exporters and Russian industry representatives to foster trade alliances, joint ventures, and market connections, the statement added.

Bilateral trade between India and Russia soared to a record high of $68.7 billion in FY2024-25, nearly 5.8 times higher than the pre-pandemic trade figure of $10.1 billion. This includes India’s exports worth $4.88 billion and imports from Russia totaling $63.84 billion.

Notable Indian exports encompass agricultural products (fish, shrimp, rice, tobacco, tea, coffee, grapes), chemical products, pharmaceuticals, iron and steel, ceramic products, aircraft components, machinery, glass and glassware, apparel, leather goods, rubber products, electrical machinery, and surgical instruments.

Significant imports from Russia consist primarily of oil and petroleum products, fertilizers, bituminous substances, mineral fuels, mineral waxes, machinery, equipment, precious metals and stones, wood, pulp and paper products, metals, and vegetable oils.

Both nations aspire to achieve the bilateral trade target of $100 billion by 2030.