Trade between Russia, India rises 8% in first half of year

MOSCOW, August 24. /TASS/. Trade between Russia and India increased by 8% in the first half of the year, Russian First Deputy Prime Minister Denis Manturov said.

"Thanks to our coordinated efforts, we have been able to steadily increase bilateral trade. In the first half of the year, mutual trade grew by 8%. Positive momentum was recorded in both Russian exports and imports from India," he said.

Manturov added that the two countries face the task of not only increasing trade volumes but also diversifying the structure of their trade. "Alongside Russia’s traditional supplies of fuel and mineral fertilizers, trade in agricultural products and food, machinery, metals, and forestry products is expanding. At the same time, imports from India include pharmaceuticals, agricultural products, industrial raw materials, equipment and components, as well as light industry products," he added.

The first deputy prime minister stressed that a free trade agreement between the Eurasian Economic Union and India would contribute to further growth in trade. According to him, preparations for the agreement are at an active stage, and it is important to maintain the strong pace of negotiations.