Yakov and Partners - In the media

India and Russia's expanding ties in the arena of trade are due to touch a landmark figure of $200 billion by 2030, a joint study conducted by Yakov and Partners and Business Russia has found. The authors believe that expanding economic cooperation between the South Asian and Eurasian countries will bring additional trade worth $90 billion annually by the end of this decade

Bilateral trade between India and Russia stood at $50 billion in the financial year 2022-23, said Minister of Ports, Shipping and Waterways of India Sarbananda Sonowal, forecasting an even bigger turnover for 2024. Last year, a study conducted by a private consultancy, Yakov and Partners, and state-owned financial organization Business Russia predicted that trade between India and Russia could reach $200 billion by 2030

As Russia redirects trade flows from its traditional markets, the dramatic growth in India-Russia bilateral trade presents both an opportunity and a challenge, according to a report by Yakov and Partners.“Given the current trade deficit, there is no doubt that India-Russia co-operation should be taken to the next level and trade should be harmonised. Hundreds of billions of Indian rupees earned by Russian exporters and held in Indian banks could be deployed for both investments in India and exports of Indian goods to Russia”

Yakov and Partners is one of the top consulting companies in Russia, headquartered in Moscow and with offices across the globe. The firm was formed by former McKinsey, Bain, and BCG consultants and partners and has quickly grown to be the largest strategy consulting firm in Russia. Yakov and Partners is known for supporting cross-country interactions between the BRICS countries through strategic consulting, operational improvements, change management, and digital transformation

Businesses in Russia and other partner countries require creative solutions, but the practices used in classical consulting may not be suitable in uncertain conditions. “We have already reached a scale comparable to that of the top three local consultancies in China, although the market there is about seven times larger than the Russian one,” said Dmitry Plotnikov, Partner at Yakov and Partners. In the future, the company plans to become one of the world’s top 50, and then top 30 international consulting firms

The potential of Public Private Partnerships currently remains underutilized, in particular due to overregulation, special requirements for project preparation, and a cautious attitude on the part of business. However, successful implementation of infrastructure projects could create up to 400,000 jobs and improve the quality of life of 70-80 million people, says Yakov Sergienko

Covid has had a significant negative impact on the nervous and immune systems of many people who have contracted it. Many have reduced their physical and mental energy levels, as people focus more on their survival and physical well-being. This is explained by Yakov Sergienko, who also notes that people now work in a different environment due to the pandemic

All publications

Alexey Moseychev, an expert at the Research & Insights Center at Yakov and Partners, comments on the scope and potential of the economic measures envisaged by the Union State Treaty, including key matters such as common currency, harmonized tax laws, common macroeconomic and tariff policies, common stock market, harmonized labor laws, and common budget

Fast-growing companies have a significant impact on the economy: they account for more than 50% of the total increase in employment or productivity in the economy. Despite global challenges, there are more of them in Russia. The phenomenon of the emergence of such companies can be observed in all sectors of the economy, but its development is hampered by a number of factors, as director of Yakov and Partners Egor Bespyatov and analyst Sevastian Bazarov note in the article

The most advanced forms of PPP, such as concessions, have become the basis for infrastructure development in many countries. Today, as the economy grows, the government sets ambitious infrastructure development goals that would be hard to attain without support from business. According to Yakov and Partners experts Gennady Masakov and Andrey Strogonov, this makes a further rise in PPP projects all the more likely

In Russia, Telegram plays the role of the leading channel for communication – the application is used by 85 million people per month. Telegram's audience has been at least doubling every other year since 2018. Given this pace, we can assume that by 2028 Telegram will hit the top 5 social media in the world, even under conservative scenarios, predicts Dmitry Plotnikov, a partner at Yakov and Partners

Even with the wide-spread development of tourism infrastructure that has taken place in recent years, the domestic tourism market still has enormous untapped potential for growth, as this country lags behind other large countries in terms of the number of domestic trips per citizen, says Elena Kuznetsova, director of the Yakov and Partners Institute for Economic Research

The global media industry is embracing AI technologies, already reaping tangible advantages. However, their Russian counterparts are lagging behind. This was shared by Dmitry Plotnikov, a partner at Yakov and Partners. To bridge this gap, it is crucial to incorporate AI technologies at every stage of media content creation. This will pave the way for reaching a broader audience, not only within Russia and in Russian, but also internationally

Europe is in a recession: Eurostat reported a 0.1% decline in GDP in the eurozone in the third quarter of 2023, and for some countries, this is the third consecutive quarter of decline. Despite the significant decoupling from the European economy, the recession in the EU may still have an impact on us, says Elena Kuznetsova, director of the Yakov and Partners Institute for Economic Research

Yakov and Partners analysts shared their vision of the trends that will define development in Russia and the rest of the world in the years leading up to 2035. The analysts have polled dozens of strategy planners at federal government agencies, regional governments, major corporations, and NGOs, eliciting the megatrends that will most likely shape Russia’s development going forward

The Russian government has been tasked with delivering annual talent forecasts for the domestic labor market to gear up for possible talent shortages. There are several approaches to forecasting, including macroeconomic modeling and surveys, but their accuracy is limited. Elena Kuznetsova, Director of the Economic Research Institute at Yakov and Partners, explains the role of such forecasts in shaping the understanding of businesses’ future talent needs

Elena Kuznetsova, Director of the Economic Research Institute at Yakov and Partners, discusses domestic tourism. Even though budget revenues at various levels do not include such line item as tourism, the tourism industry is significant for the regions. Hence, this sector is not to be underestimated. Each tourist spends an average of RUB 40 thousand per trip in the region they are staying in, excluding travel costs

Bank deposits and growth accounts took over from cash as the preferred type of savings, says Elena Kuznetsova, director of the Yakov and Partners Institute for Economic Research. These findings stand in contrast to the results of a similar study conducted 1.5 years ago. It is expected that older generations save more than younger generations. However, it is somewhat surprising that people with average income save the most, at 67%

In the first nine months of 2024, the number of individual entrepreneurs (IE) in Russia rose 4.7%, to 4.2 million. According to Yakov and Partners' Director Egor Bespiatov, the number of IEs has been growing steadily since 2019, driven by the emergence of new niches in the national economy where small players are needed, for example equipment suppliers. In addition to that, increased personal incomes are prompting many self-employed individuals to move into the IE category

“Job seekers in many professions name the hybrid format of work as an important factor guiding the choice of employer,” says Elena Kuznetsova. “It made it to the list of the top three most important factors.” Now, there is a "job seekers' market" because employers are finding it difficult to ignore the needs of their employees

“Financial resources are the main factor guiding the decision on having children among all the respondents regardless of their age, income, or place of residence,” points out Elena Kuznetsova. For respondents aged 18-19, the main factors included the quality of education (25%) and the opportunity to balance family life and career (25%). For surveyed residents of cities with populations over one million, excluding Moscow and St. Petersburg, safety of children was the second most significant factor (23%)

A survey has identified the major trends in the Russian labor market up to 2030. Attracting and retaining senior employees can be one of the most essential resources in industries and fields that are already experiencing a shortage of staff, said Elena Kuznetsova, director of the Yakov and Partners Institute for Economic Research