On 25th July, during the BRICS Youth Summit 2024, an open dialogue on “BRICS Young Entrepreneurs: How can a foreigner do business in Russia” was held in Ulyanovsk. The entrepreneurs who joined the panel were Akil Mohammad, Founder and Chairman of International Youth Edu-Skills Foundation, Co-founder of Smart Mir Services and Deputy Head of the Russia-BRICS Project Office; Sarthak Singhal, Founder of Indian Cup, tea brand; Mehdi Soltanie, representative of Listerra and Roman Zheltov, Deputy Chairman of the union “Ulyanovsk Regional Chamber of Commerce and Industry”. 

During the dialogue, the experts shared their experiences while doing business in Russia. Akil Mohammad, in his statement, shared the plans to launch a home decor brand. He also stated that it is not possible to do business without facing difficulties. 

During his speech, Sarthak Singhal told the audience about their revolution in the system of transporting tea directly from the plantations. He said, “In order to successfully sell your products here in Russia, I think that you need to, first of all, correctly assess your competitors and the niche you want to enter. And then enter this market at full sail.”

Mehdi Soltanie, regarding business with Russia, mentioned, “We supply our components to Russia. At the same time, our partnership is mutual, Russia also helps us with building materials. We have been exporting sand and crushed stone from Russia for the past two years.”

This year the BRICS Youth Summit brought together more than two hundred leaders from 10 countries, including Brazil, China and Saudi Arabia.