Moscow finds 6 key export areas for India, ready to ease rules

RUSSIA has identified six key areas, including consumer goods, pharmaceuticals, telecom equipment where Indian exporters can sell their product in the former’s market . As India Russia Business Forum began on Thursday, both the countries addressed the massive trade deficit India has with Russia, and they committed to minimise the trade imbalance, allowing more Indian exports to Russia.

- PUSHPITA DEY @New Delhi

Ease conditions

Meanwhile, Russian bureaucrats further said that they are willing to ease several conditions, be it in terms of payments, certifications and other aspects, to ensure Indian exporters can enter the Russian markets.

“We need to bring more diversity in our trade basket. We need to make it more balanced, interstate Russia and India. We need to add more variety,” said Union Commerce Minister Piyush Goyal during his opening remark at the Business Forum.

Trade to $100 bn

India and Russia aim to raise two-way trade to $100 billion by 2030.