Cooperation Agreement Signed Between FBA EAC and the Indian Business Alliance
On June 30, 2026, the official signing of a cooperation agreement took place between the Financial and Business Association of Euro-Asian Cooperation (FBA EAC) and the Indian Business Alliance (IBA). The document was signed by Alexander Murychev, Chairman of the Board of FBA EAC, and Sammy Kotwani, President of the IBA. The ceremony was held at the Association's headquarters on Kotelnicheskaya Embankment, marking a new stage in the development of bilateral economic ties.
The agreement aims to consolidate the efforts of the two business associations to expand trade and investment cooperation between Russia and India. The parties have agreed to establish a joint platform for sharing best practices, implementing mutually beneficial projects, and deepening business contacts across the Eurasian space. The document provides for the organization of joint events, business missions, and consultations to support entrepreneurs from both countries, as well as the promotion of joint projects in key industries.
"The signing of this cooperation agreement is a significant milestone in our years-long work to strengthen dialogue with our Indian partners. Russia and India possess immense potential for mutually beneficial and fruitful partnership. Combining the expertise and resources of our organizations will not only elevate bilateral relations to a qualitatively new level but also help find effective solutions to the pressing challenges facing the business communities within the BRICS framework," noted Alexander Murychev.
FBA EAC pays special attention to interaction with Indian partners. Previously, in December 2025, a delegation of the Association, led by Alexander Murychev, took part in the 16th Russia-India Business Dialogue, where it presented an expert analysis of key areas of financial and banking cooperation.
The Indian Business Alliance is a non-profit organization established in 1994 under the patronage of the Embassy of India in Russia. The primary goal of the Alliance is to promote and protect the interests of Indian business in Russia, providing Indian entrepreneurs with a platform to expand their global reach and cooperate with Russian partners. Today, the IBA has over 150 members from various economic sectors, including pharmaceuticals, engineering, textiles, chemicals, metals, sugar, plastics, tourism, and the service sector. In recent years, the Alliance has opened its membership to non-Indian companies and individuals.
The IBA regularly organizes seminars, workshops, and business meetings with high-ranking officials and foreign delegations, and maintains a dialogue with relevant ministries. The Alliance has signed numerous memorandums of understanding with chambers of commerce and business associations to strengthen bilateral trade and develop joint ventures.
IBA President Sammy Kotwani moved from Mumbai to Moscow in 1990, where he founded Wintex International, and in 2003 established the "Imperial Tailor" atelier, which specializes in bespoke men's suits for heads of state, politicians, business leaders, and cultural figures.
Since 2008, Sammy Kotwani has been heading the Indian Business Alliance. In 2016, he founded and took the helm of the Indian National Cultural Center "SITA", organizing large-scale "Days of India" festivals and other cultural events. He also serves on expert councils of federal government bodies, is the Vice President of the All-Russian organization "Russia Is Our Home", a member of the Presidium of the "Federation of Migrants of Russia", and heads the representative office of Overseas Friends of BJP Russia and the BJP in the CIS countries.