MCIT at SPIEF-2012: Shri Anand Sharma, Hon'ble Minister of Commerce, Industry and Textiles (CITM) led the Indian delegation for St. Petersburg International Economic Forum SPIEF-2012 which was held at St. Petersburg on 21-23 June 2012. 16-member Indian CEO’s delegation including CII President Mr. Adi Godrej took part in the India-Russia Business Dialogue held on the sidelines of conference. CITM and Russian Dy. Prime Minister Mr. Rogozin addressed the India-Russia Business dialogue meet. The Sweden-based single brand furniture retailer IKEA’s CEO Mr. Mikael Ohlsson met the MCIT in St. Petersburg on 22 June 2012 to confirm that they would be investing in India to the tune of Euro 600mn (approximately Rs. 4200 Crore) in the first stage and additional estimated FDI of upto Euro 900mn (approximately Rs. 6300 Crore) totaling to estimated Euro 1.5bn (approximately Rs. 10,500 Crore) for initial establishment of twenty-five retail stores in a wholly owned subsidiary. Click here for photos.