Russian E-commerce Platforms Turns to India due to Moscow’s conflict
Russian E-commerce Platforms: Several E-commerce platforms in Russia have approached India to tie with enterprises. Because those platforms are surrounded by Moscow’s conflict with Kyiv. The names of those e-commerce platforms are Ozon and Yandex Market, Confectionery Main UNICONF, and X5 Retail Group. Moreover, Simko-Dent (dental products distributor), food supplements firm Pharma standard, and others.
According to the source, European and American brands related to the above-mentioned sectors or industries have stopped exporting their goods. Those also include consumer electronics and apparel in that country. Russian conflicts could be the main cause behind the EU and Americans’ decision on eradicating export.
Further, the Russian companies have shown their interest in connecting with India for doing business. But, there remains a worry that occurs on both sides about payment.
Source from the industry says that Yandex Market, which handles imports, logistics, customs clearance, storage, and distribution, is looking into the possibility of sourcing apparel, kids’ toys, bed linen, home decor, textile fabrics, consumer electronics, kitchen items, tea, and leather products from India.
Shortly, they plan to continue to emphasize this stream, to provide Yandex Market customers with unique products, and to open the Russian market to brands from all over the world, including goods from India, said a source.
Furthermore, the X5 food retailer said that it remains more excited about expanding its cooperation activities with Indian suppliers. X5 Retail Group is concerned with the business of drinks, seafood, tea, coffee, chicory, rice, canned food, kitchenware, fresh grapes, and other goods.
At present, India placed in 20th place among top countries in terms of X5 Group’s import volumes. Food retail group, X5 plans to increase the supply of Indian goods with economic benefits to import shortly.
Furthermore, it received or imported goods from around 60 countries in the world.
On the other hand, Five companies in the pharmaceuticals, medical devices, and equipment space are enquiring about the supplies from India.