India Eyes $100B Trade With Russia
The exit of Western firms from Russia has opened space for Indian exporters to expand their presence. ITE Group CEO said the situation could help bilateral trade between India and Russia reach USD 100 billion in the coming years.
Opportunities for Indian Exporters
With Western companies pulling out, Indian firms, especially MSMEs, are finding opportunities in sectors such as manufacturing, consumer goods, and raw materials. Indian exports are becoming more competitive as Russia looks for new partners.
Challenges in Expansion
Despite the potential, exporters face hurdles including sanctions-related logistics, licensing issues, currency restrictions, and local compliance requirements. Industry leaders say smaller businesses will need strong institutional support to overcome these challenges.
Long-Term Significance
Tapping into these opportunities could diversify India’s export base and strengthen its global trade position. To achieve the USD 100 billion target, exporters will need to scale up production, ensure quality, and improve supply chains for consistent access to Russian markets.
