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Moscow expects India to ease technical barriers for certain Russian goods — ministry

Russian Economic Development Minister Maxim Reshetnikov stressed the importance of achieving parity in the negotiations

MOSCOW, December 5. /TASS/. Moscow expects New Delhi to ease technical barriers for certain Russian goods, the Economic Development Ministry said in a statement following talks between Russian Economic Development Minister Maxim Reshetnikov and Indian Minister of Commerce and Industry Piyush Goyal.

Key topics on the agenda were trade diversification, removal of barriers, and prospects for a free trade agreement.

"Russia is ready to support Indian exporters in adapting their products to the requirements of EAEU (Eurasian Economic Union - TASS). At the same time, Moscow expects New Delhi to ease burdensome technical barriers for certain Russian goods," the ministry said.

"The conclusion of a free trade agreement should be an important step in deepening Russian-Indian trade and economic cooperation. Following the signing of the Terms of Reference with ambitious goals in August, the first round of negotiations took place at the end of November," the ministry added

The Russian minister stressed the importance of achieving parity in the negotiations.

"The number of product categories for which concessions will be granted should be comparable," Reshetnikov stated.

The ministry noted that turbulence in the global economy and a shift toward protectionism are creating conditions for the formation of new, more reliable trade ties. The disruption of old supply chains opens a window of opportunity for Russia and India. According to the ministry’s press service, mutual trade volumes have increased almost sevenfold over the past five years. In 2024, India became Russia's second-largest trading partner. Imports from India also continued to grow between January and September of this year.

"The signing of a mutually beneficial FTA (free trade agreement - TASS) in this situation will be a decisive step that will not only strengthen economic cooperation but also achieve the main goal of increasing trade turnover to $100 billion by 2030," the Economic Development ministry concluded.

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