While Russian President Vladimir Putin’s visit to India is expected to boost the defense sector, Uttar Pradesh’s leather industry is also keenly interested in grabbing the opportunity.
The UP leather industry hopes that Russian markets could open up for them to offset trade impacted by US tariffs, which would serve as a boost for the MSME sector.
Given India’s current diplomatic relations with its Western allies, including the United States, regarding Russia, Putin’s visit is being closely watched.
However, India and Russia are not going to be pressured by these changes in their strategic, defense, and economic relations.
A crucial bilateral summit is scheduled for December 5 between Prime Minister Narendra Modi and Russian President Vladimir Putin. India is expected to finalize a major deal with Russia to expand its defense capabilities and achieve self-reliance.
The delegation accompanying the Russian President is expected to reach agreements on promoting bilateral relations and opening new avenues for trade.
To strengthen the economic and trade partnership between India and Russia, a large-scale India-Russia Business Forum 2025 is being organized in Delhi on December 5.
This event will take place during the visit of Russian President Vladimir Putin to India. He will be accompanied by a senior ministerial delegation and over 200 leading Russian companies from various sectors, with whom extensive business dialogue and investment opportunities are expected to be discussed.
FICCI is organizing the Forum in collaboration with the Department of Commerce, Government of India.
FICCI has also invited the leather industry of Uttar Pradesh to participate in this forum. During this important meeting, business discussions, roadshows, and B2B dialogues will be held at various levels, providing new opportunities for the industries of both countries to expand mutual trade. This will also provide Indian industrialists with the opportunity to interact directly with Russian companies and discuss potential partnerships.
Among the Forum’s key events, the “Russia Roadshow: Emerging Needs and Opportunities” will be particularly significant, with senior Russian ministers presenting their needs and business opportunities in key sectors such as pharmaceuticals and healthcare, IT and digital services, agriculture and food processing, human resources, skills development, and the services sector.
Asad K. Iraqi, Chairman of the Regional Council for Leather Exports, stated on Thursday that this meeting is expected to open new avenues for the leather industry.
He explained that India used to export leather to the US worth ₹10,000 crore, with Kanpur and Unnao accounting for ₹2,000 crore. Tariffs have disrupted the market. Putin’s visit is a significant boost for the leather industry. He said that FICCI has invited everyone to participate in the talks with the delegation, and he himself will attend the meeting.