The traditional friends must strategise and do business on their own terms, disconnected with geopolitics, say panellists at Russia India Business Forum event
Participants at the opening session of the Russia India business Forum. (Photo credit: News9Plus)
New Delhi: At a time when Russia is facing sanctions, its tech companies can offer solutions to India and Indian companies. Together the two countries can chart an independent path unaffected by external factors, participants at the opening session of the Russia India Business Forum said here on Wednesday.
The sanctions by the West on Russia featured prominently in the first session: ‘Technological Alliances in the Greater Eurasia’. Panelists in the session mentioned how a small bunch of companies, mainly from the United States and China, dominate the high-tech market and how these companies are in a way, purveyors of digital colonialism.
“Today, it all depends on financial systems. They (the West) find it convenient to trade in Euro or Dollar, these trade rules were written by the West. We have to rewrite such rules. We can talk of Digital Rouble, Digital Rupee and we should have collaborations on our terms,” said Aleksandr Babakov, Deputy Chairman of the State Duma of the Federal Assembly of the Russian Federation.
Concurred Andrey Bezrukov, President, Technological Sovereignty Exports Association and a Professor at the Department of Applied International Analysis, MGIMO University, who moderated the session: “We cannot compromise the security of the states. Russia and India have long been independent, non-aligned and together we can provide to the rest of the world, services that would not be disconnected for any reasons.”
Tigran Sargsyan, Deputy Chairman of the Board, Eurasian Development Bank, rued the fact that there has not been “satisfactory progress” during the last five years over the international North-South Corridor that Russia and India should have pursued faster. “We started parallel trade discussions with China and India. With China, we have an agreement. With India, the process started 20 years ago but there is no agreement and the question is still being discussed.”
“Russia, China, India … The Silk Route had connected all of us. It would be great to have India on board,” he said, and added, “In the era of global technology, such kind of architecture should be discussed where it can be taken to destined heights. This technological alliance should discuss what should be the result.”
Rajiv Singh Thakur, Additional Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India, said the discussions were very much “relevant and contemporary with respect to the geopolitical sphere” and added that both India and Russia can learn from each other and take it forward.
Inna Svyatenko, chairman of the Committee on Social Policy, Federation Council of the Federal Assembly of the Russian Federation, said: “Moscow has developed its own platform that is not dependent on any foreign collaboration. It would be great to share digital solutions as we have in Moscow, with India.”
Skannd Tyagi, Founder, Chief Executive Officer, Starshot Ventures, spoke about how Indian IT companies can benefit from Russia’s expertise in cyber securities, while Sergey Cheryomin, Minister, Government of Moscow; Head of the Department for External Economic and International Relations of Moscow and also the chairman of the Board, Business Council for Cooperation with India, said, “When Russia is under severe sanctions by the USA and EU, we have to find out how to deliver good and one of the solutions is the North South Corridor. India and Russia work on building better ties in this sector.”
(This story first appeared on news9live.com on Mar 29, 2023 and can be read here.)
