Ranchi, Mar 31: The Jharkhand Entrepreneurs Association (JEA) on Wednesday signed a memorandum of understanding (MoU) with Russia-based All Russia Public Organization “Business Russia” to enhance bilateral trade and investment with a focus on Jharkhand.
The agreement was signed in the national capital and aims to strengthen economic cooperation between India and Russia by promoting business partnerships, facilitating investments and encouraging entrepreneurial exchange, officials said.
According to a statement, the collaboration seeks to create structured opportunities for businesses from Jharkhand and Russia to engage through trade missions, business delegations, exhibitions and seminars.
JEA Chairman Sumit Kumar said the partnership marks a step towards integrating Jharkhand’s entrepreneurial ecosystem with global markets.
Officials said “Business Russia”, led by Alexey Repik and represented in India by Olga Kulikova, will bring its network of enterprises to explore investment and trade opportunities in the state.
The MoU focuses on promoting trade and investment flows, strengthening business-to-business and business-to-government engagement, and providing support to companies looking at cross-border expansion, they added.
It will also facilitate knowledge sharing on trade regulations, tariffs and compliance standards, while enabling verification of business opportunities for stakeholders on both sides.
The partnership is expected to benefit sectors such as manufacturing, mining, technology, startups, MSMEs and infrastructure, with potential to attract foreign direct investment and generate employment in Jharkhand.
The agreement will initially remain valid for two years, with provisions for renewal, and both sides will hold periodic meetings to review progress and expand cooperation.
JEA, a not-for-profit organisation, works towards developing a structured startup ecosystem in Jharkhand, while “Business Russia” is a non-governmental body representing Russian business leaders and promoting international trade cooperation.
