SPIEF plays key role in increased Russia-India trade

Forum director emphasises 'big potential' of rupee-rouble trade between both nations

- SHREYA NANDI

Despite sanctions imposed by the United States on Russia, the number of participants and businesses at the St Petersburg International Economic Forum (SPIEF) — Russia's counterpart to the World Economic Forum in Davos — continues to grow, according to Alexey Valkov, director of the forum.

"The number of participants has been increasing at the forum. In fact, it (sanctions) has not caused problems," Valkov told Business Standard in an interview on Monday, adding that since businesses began growing despite sanctions, the number of participants has increased. From 13,000 participants in 2021, the forum has grown to 21,000, he said.