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India’s imports of Russian goods require diversification — executive

Diversification is expected "to happen as machinery, electrical electronics, organic and miscellaneous chemicals are emerging as new products with sizeable exports potential," Director General and CEO of the Federation of Indian Export Organizations Ajay Sahai said

NEW DELHI, April 11. /TASS/. The Indian import of Russian goods requires diversification, while crude oil, fertilizers and diamonds are main items of import, Director General and CEO of the Federation of Indian Export Organizations (FIEO) Ajay Sahai told TASS.

"On imports [of Russian goods by India] front, there is a need for more diversification as currently out of the total exports from Russia of $37 billion during April [2022] -January 2023, petroleum alone accounted for $31.1 billion, fertilizer - $2.6 billion and diamond - $1 billion," Sahai said. "These three products alone accounted for 93% of India’s imports from Russia," he noted.

Diversification is expected "to happen as machinery, electrical electronics, organic and miscellaneous chemicals are emerging as new products with sizeable exports potential," the chief executive said, referring to Indian exports to Russia. "India’s exports to Russia will now have a nice mix of new products of exports as well as traditional products," he added.

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