Indo-Russian trade relations got a leg up on Thursday after St Petersburg-based GCE Group

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announced the launch of India operations. The group provides energy efficiency consultancy to power and energy sector.

The company targets $100 million (around

Rs 470 crore) revenue annually over next five years. “GCE India plans to tie up with leading Indian firms in energy sector as a consultant and is already in talks with GAIL, ONGC, IOC and BPCL,” said Alexander Moskalenko, president of the GCE Group.

Meanwhile, the company is facing problems in India because of political and bureaucratic bottlenecks. The government returned documentations (that are for company registration) for necessary corrections. “We are concerned about the kind of approach for registration of a company in India. In Russia, registration of a new company takes two weeks while we took three months to register in Brazil. But, in India, we are dealing with the process for almost a year,” added Moskalenko.

The company is being helped by Russia trade representative in India to complete the official formalities for setting up their business in the country. According to an official though, the company expects the process to be over in the next 10 days.

GCE India plans to start services in technical risk analysis and targets to set up a team of 1,000 people over the next five years.

India’s massive economy, which is developing very fast, is the primary cause for the firm to spread their footprint here. “We plan to work in coordination with local companies in the country. We are focused to expand our business in BRIC (Brazil, Russia, India and China) nations and Europe,” said Moskalenko.

The company claims it will help India in reducing carbon emissions and offer new job opportunities.

Mikhail A Rapota, trade commissioner, trade representation of the Russian Federation in India, told news persons that they expect the Indo-Russia trade to touch $10 billion by 2010. “We saw 11 per cent increase in the Indo-Russian trade in the first half of the current year,” said Rapota.

GCE Group’s clients list include companies such as British Petroleum, TNK BP, Gazprom, Lukoil, CPFL, RUSAL, China and National Petroleum Corporation among others.