NEW DELHI, April 18. /TASS/. The issue of imbalance in Russian-Indian supplies may be solved through creating joint ventures, as well as enabling Indian partners to enter the niches on the Russian market that turned out free after the exit of a number of foreign companies, Russian Deputy Prime Minister, Trade Minister Denis Manturov told reporters during his working trip to India.

"It is possible to tackle the imbalance of supplies through creating joint ventures both in Russia jointly with Indian partners and in India jointly with Russian economic entities, among other things," he said.

Russia suggests that "Indian producers should be more active in entering the niches that were freed as a number of foreign companies left the market," Manturov said speaking at the meeting of the Russian-Indian intergovernmental commission, adding that "the issue is first of all about supplies of components, equipment and materials for various sectors of industry."

Last year India already demonstrated a notable increase in exports of road equipment, Russian Deputy PM noted. Supplies of ready products and components by the Indian side to Russia will permit increasing the volumes of purchases of industrial products that the Russian market is interested in, he explained.

"Overall for diversifying trade turnover we consider it crucial to enter into an agreement on free trade between the Eurasian Economic Union and India. We plan to start the negotiation process shortly," Manturov added.

Earlier this week Indian Foreign Minister Subrahmanyam Jaishankar said at the opening of business dialogue coinciding with the 24th meeting of the intergovernmental Russian-Indian commission, that the Indian side was disquieted by imbalance in trade with Russia, adding that the two countries should urgently work on ways to correct it.