| | OCTOBER 20258India has made over 65 non-tariff barriers, its marine exports to Russia, including the hurdles that its agricultural exports will face as it seeks to reduce the trade deficit with the country, according to reports.While Russia has opened up to some varieties of Indian mango and bananas in the past few years, one key concern pertains to the approval of marine product units from India for shrimp exports. India's goods exports to Russia in 2024-25 totaled $4.88 billion, of which frozen shrimp and prawns exports amounted to $123 million.An early settlement of the non-tariff hurdles is crucial for India as it had a $59 billion trade deficit with Russia in 2024-25.Only registered entities can supply shrimp to Russia and we have been trying to get the issue resolved. The EU has also given registration for many of our units..Moreover, Russia, as part of the Eurasian Economic Union (EAEU), has firmed up the framework for a trade agreement with India. The EAEU comprises Russia, Belarus, Kazakhstan and Armenia.India and the EAEU have signed the terms of reference to launch negotiations on a free trade agreement, establishing the framework and priorities for talks aimed at boosting trade and investment.Early resolution of the non-tariff barriers is important as it will also be a good background for the trade deal negotiations and Russia is the largest member of the bloc.Fixing the issue is key for diversifying India's shrimp exports, which have been hit hard by a steep 50 percent tariff imposed by the US.India also sees an opportunity in exporting more frozen fish meat, frozen rock lobster, sea crawfish, cuttlefish and squid to Russia, where Vietnam, Ecuador and Indonesia are some of the key suppliers.In a move to reduce the trade gap, the commerce and industry ministry has reached out to industry on customs clearance and documentation challenges, freight issues in reaching Russia and banking-related difficulties, especially payment mechanisms, besides key product segments for export expansion and the possibility of joint ventures. INDIA TO REDUCE TRADE DEFICIT WITH RUSSIABHIMA JEWELS APPOINTS RAJESH BALACHANDRAN AS CMOIN FOCUSIN FOCUSBhima Jewels has named Rajesh Balachandran as their new Chief Marketing Officer, following his previous role as CMO at Muthoot Fincorp.Balachandran began his professional journey as an Assistant Marketing Manager with Aswini Homeo & Ayurvedic Products Limited, handling sales operations, revenue development, and market growth. He then joined G.M.Pens International Pvt.Ltd in 2003 as Deputy Manager - Brand.Subsequently, in 2007, he transitioned to Vodafone Idea Limited as Vice President Marketing, operating across different circles such as Kerala, Mumbai, and presently Maharashtra and Goa. Throughout his tenure, Balachandran has navigated several organizational changes within the company.His educational background includes a Bachelor of Science in Agriculture from Dr. Panjabrao Deshmukh Krishi Vidyapeeth, completed between 1994 and 1998. He then earned a Post Graduate Diploma in Business Management with Marketing specialization from ITM Group of Institutions from 1998 to 2000.The campaign draws from the rich cultural heritage of Andhra Pradesh and Telangana, highlighting gold's cultural and sentimental importance in Telugu families.The word Bangaram in Telugu means gold while also being an endearing term for someone valuable. Bhima Jewels strategically uses this double meaning to present their jewelry as genuine gold - both in reality and meaning - for every family's 'Bangaram'. The campaign features renowned actor and brand ambassador Ram Charan, whose participation brings prestige, sophistication, and genuineness. His association deepens the emotional bond with local audiences, enhancing the campaign's relatability."This campaign is a celebration of the timeless bond between gold and tradition in Telugu culture," said Abhishek Bindumadhav, Managing Director of Bhima Jewels. "With Ram Charan as the face, it reflects our commitment to trust, heritage, and craftsmanship."Currently broadcasting on television, digital platforms, and social media throughout Andhra Pradesh and Telangana, this campaign aims to create an emotional connection with households getting ready for festival and marriage festivities.
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