{"id":8824,"date":"2024-06-14T03:49:17","date_gmt":"2024-06-14T03:49:17","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=8824"},"modified":"2024-06-14T03:49:17","modified_gmt":"2024-06-14T03:49:17","slug":"chance-for-punjab-firms-to-set-up-food-processing-units-in-russia-2","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/chance-for-punjab-firms-to-set-up-food-processing-units-in-russia-2\/","title":{"rendered":"Chance for Punjab firms to set up food processing units in Russia’"},"content":{"rendered":"

With exodus of European, American and Japanese companies after the Russian invasion of Ukraine, there are ample opportunities for the Indian firms to invest or increase their export exposure to Russia. According to the Indian Ambassador to Russia, Pavan Kapoor, Moscow seeks fresh partners to fill the void.<\/p>\n

Unending sanctions of European and American nations forced multiple western companies to pull out their businesses from Russia. Many companies operating in diverse sectors closed their operations in Russia. Considering this pull-out, there is an opportunity for the Indian companies to fill the void left by western companies.<\/p>\n

After exporting crude oil at a highly competitive price, Russia has now started to become the preferred destination for Indian companies. In 2021-22, India’s exports to Russia stood at $3.25 billion while imports were at $9.87 billion. While during the period April-August this year, the total bilateral trade was $18 billion. Out of the total, imports were $17 billion and exports from India were $1 billion. The huge is mainly on account of import of oil from Russia.<\/p>\n

For Punjab-based companies, there are opportunities in Food Processing<\/a> sector mainly fruit and vegetable concentrates, fruit additives, automobile and auto components, Cotton<\/a> yarn, jute & textiles, packaging and hand tools etc.<\/p>\n","protected":false},"excerpt":{"rendered":"

With exodus of European, American and Japanese companies after the Russian invasion of Ukraine, there are ample opportunities for the Indian firms to invest or increase their export exposure to Russia. According to the Indian Ambassador to Russia, Pavan Kapoor, Moscow seeks fresh partners to fill the void. Unending sanctions of European and American nations … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1092],"tags":[791],"class_list":["post-8824","post","type-post","status-publish","format-standard","hentry","category-punjab","tag-12-10-22"],"yoast_head":"\nChance for Punjab firms to set up food processing units in Russia' - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/chance-for-punjab-firms-to-set-up-food-processing-units-in-russia-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chance for Punjab firms to set up food processing units in Russia'\" \/>\n<meta property=\"og:description\" content=\"With exodus of European, American and Japanese companies after the Russian invasion of Ukraine, there are ample opportunities for the Indian firms to invest or increase their export exposure to Russia. 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