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Trade between India, Russia to rise in 2024, surpassing last year’s level — minister

The Eastern marine corridor between the ports on India’s eastern coast and Russia’s Far Eastern regions has "huge potential" of new trade opportunities, Sarbananda Sonowal said

NEW DELHI, January 25. /TASS/. Bilateral trade between India and Russia reached $50 bln during the 2022-2023 financial year (ended on March 31) and it is expected to grow during the same current period, Indian Minister of Ports, Shipping and Waterways Sarbananda Sonowal said.

"Our bilateral partnership has expanded, having become truly diverse as it includes cooperation in the military, security, scientific and technological fields. Bilateral trade between India and Russia posted fast growth during the last financial year when it reached $50 bln, and it is likely to grow even higher during this financial year," Business Standard quoted the minister as saying at the first Russian-Indian working seminar dubbed ‘Exploitation of Eastern marine corridor’.

The Eastern marine corridor between the ports on India’s eastern coast and Russia’s Far Eastern regions has "huge potential" of new trade opportunities, Sonowal said.

Russia’s delegation headed by Deputy Minister for the Development of the Far East and Arctic Anatoly Bobrakov and representatives of business and relevant state structures of the two countries are taking part in the seminar.

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India Trade & Cooperation

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