Russia Opens Doors: India's Big Export Opportunity in Farm & Engineering

• Russia offers significant market opportunities for over 300 Indian products, including agricultural goods, medicines, chemicals, and engineering items.
• India and Russia aim to achieve $100 billion in bilateral trade by 2030, despite India currently facing a large trade deficit of approximately $59 billion.
• India's share in Russia's total imports is only 2.3%, highlighting substantial potential for increasing Indian exports to Russia.
• India's oil imports from Russia surged from $2 billion in 2020 to $57 billion by 2024, contributing to the trade imbalance.
• Russia's efforts to reduce its reliance on China create new avenues for India, particularly in engineering goods and agricultural products, where Russia imports billions annually.

Why It Matters: India gains a major opportunity to boost exports to Russia, balancing trade.