MOSCOW, December 27. /TASS/. The bilateral trade between India and Russia is historically high and the trade turnover will be above $50 bln in 2023, India’s Minister of External Affairs Subrahmanyam Jaishankar said at a press conference after talks with Russian Foreign Minister Sergey Lavrov.

"We appreciated the fact that our trade is at an all-time high. We have crossed $50 billion turnover last year. We expect to exceed that this year," the minister said.

"What is important is that this trade is more balanced, it is sustainable, and it provides for fair market access," Jaishankar added.