NEW DELHI, December 4. /TASS/. India and Russia can overcome trade imbalances and remove trade barriers by working together, India's Commerce Minister Piyush Goyal said.

"I think if we all work together, particularly our business community, we will take a leap of faith. We need to bring more diversity in our trade basket. We need to make it more balanced, we need to add more variety," he said at the Russia-India Business Forum organized by the Roscongress Foundation and the Federation of Indian Chambers of Commerce and Industry (FICCI).

"The partnership will flourish," the minister said. "We will address the trade imbalance in the near future, and we'll work collectively to eliminate, reduce, dilute the trade barriers, if any," he added.

India has a lot to learn from Russia and a lot to offer, Goyal noted. "There's so much to offer between both countries. There's so much that we believe we can take from Russia. There's such a large variety of offerings that 1.4 billion Indians have to offer to Russia," he said.

"Russia has a huge demand for a wide range of industrial goods, consumer products, presenting multiple untapped opportunities for Indian businesses, many sectors with a strong potential would include, as you were mentioning, the automobile sector, whether it's cars, tractors, heavy commercial vehicles, electronics, smartphones, data processing equipment, heavy machinery, industrial components, textiles, food products and many more," the minister stressed.