India and Russia have long been partners in various fronts, whether military, economic or business. In the latest turn of events, as a fruitful and successful attempt of keeping up with the strong ties that the country's already share, India's American Precoat Group extends a bond with RUSLOM. RUSLOM is a highly recognised, internationally well known committee in Russia which has long been a member of the international recycling industry organisations such as Bureau of International Recycling. RUSLOM represents about 300 metal and steel producing companies in Russia.

RUSLOM was the host of the Indo-Russia business conference on 30th May under the banner name of "Commercial and Industrial Dialogue and Business corporation." According to the Russian delegate of the event, this business conference will positively impact the two nations separately and the bond they share with each other at a time where the global economy just got out of a pandemic and is now facing a global recession. This was a one week Conference. India's delegate to the event was Dr. Shubh Gautam, the chief technical architect and managing director of the American Precoat Group. The business conference commenced on 29 May and ended on 6 June, 2022.

This business conference had several aims. First was for the Russian counterparts to be familiar with their Indian counterparts to closely monitor more opportunities and spaces for a potential partnership between the metal, transport or waste industry's giants of the two friendly nations.

Second, it was building prospects for the implementation of investment projects mainly due to India being the second biggest player of steel production in the world, it could pull up a lot of investors.

Dr. Shubh Gautam said that, "the demand in India stays solid due to the rural market evolving. For this, we're looking forward to working with our fellow Russian companies." During the business conference, Dr. Shubh Gautam pointed out the fact that Indian imported steel to Russia has a duty of 5% to it whereas on the other hand, Chinese steel imported to Russia has an import duty of 20%. He also pointed out that Russia can save all of the extra money they spend on import duties by simply importing its steel from India. This move was made to encourage Russia to import steel from Noida based American Precoat Group, so as to also enhance their partnerships economically and from a business point of view. To conclude, we can say that this business meeting was a huge success for both The Russian Federation as well as the Republic of India.

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