NEW DELHI, July 31. /TASS/. Interest among Indian entrepreneurs in cooperating with Russia continues to increase year by year, despite the various barriers imposed by the West, Russian Ambassador to India Denis Alipov told TASS.

"Each year, Indian businesses increasingly recognize that, despite all the obstacles, it is both possible and necessary to engage in trade and cooperation with Russia. And despite the many challenges, the willingness to enter the Russian market as suppliers or investors is growing. Opportunities for this exist, mechanisms for settlement in national currencies are functioning, and the instruments are becoming more convenient and efficient," he said.

"What is particularly important is that the understanding of the need for active and close interaction is spreading to the regions, both in India and in Russia. Last year, we saw a twofold increase in the number of delegations from Russian regions visiting India, and representatives of Indian regions are also showing strong interest in the opportunities available in Russia. We are working to expand the business base of our economic cooperation," the ambassador added.

According to Alipov, "Indian exports to Russia are growing." "The pace is not very rapid, but it is steady. The range of goods is broad - from tea, meat, and agricultural products to electronics and machinery," he noted. As the ambassador recalled, the leaders of the two countries last year set a goal of increasing bilateral trade turnover to $100 bln by 2030. "Judging by the current pace of trade growth, we are on track to achieve this goal successfully," the diplomat stated.

Since 2020, trade turnover between Russia and India has increased fivefold, exceeding $64 bln in 2024.