India expands trade with Russia: hope for stable economic ties

Russian Ambassador Denis Alipov had stated that India is witnessing the possibility to uplift the exportation of agricultural products, medicines, electronics and auto components with Russia.

All the issues related to trade in securing mutual settlements and logistical support are resolved. Besides, there is a significant growth in Indian companies’ interest in the vacant niches of Russian market, a source reported. Further stated that there has been a remarkable fascination in Russian businesses towards India as well. These new prospects will in turn lead to development in investment cooperation like pharmaceuticals, hydrocarbon deposits, and the diamond sector, Denis Alipov stated. Moreover, equal attention has been  focused on the cooperation in the mining industry, civil aviation and shipbuilding.

This trade turnover between Russia and India has been “increasing unprecedentedly”, since in the first six months of 2022, it crossed $11 billion  compared to that of last year (2021). Both the countries strive to amplify  their annual volume of mutual trade to $30 billion by 2025.

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