Sectors picked for higher exports to Russia

Agri, pharma & engg are natural fit for expansion, say officials

- MUKESH JAGOTA

AS THE TOP leaderships of India and Russia engage for a more balanced trade, the government has identified engineering goods, pharma, chemicals and agri products as sectors to lead the charge.

"The complementarity between India's global export strengths and Russia's demand profile offers significant headroom and these sectors are natural fits for expansion," officials said.

Of the total trade of $68.7 billion, India's exports are just $4.8 billion and imports are $63.8 billion, leading to a trade deficit of $59 billion. Of the total imports from Russia, $56.8 billion is just oil products. India accounts for just 2.3% of Russia's imports.