India is investigating ways to boost its exports to Russia, including by encouraging rupee-rouble trade and encouraging Moscow to lift non-tariff barriers, New Delhi saidin the wake of Prime Minister Narendra Modi’s visit to Moscow.
Old partners India and Russia have increased trade since Russia invaded Ukraine in early 2022, but the increase has been overwhelmingly one-way, dominated by India importing Russian oil shunned by traditional importers in Europe.
Increasing Russian exports to India accounted for $61.43 billion of the $65.7 billion in trade between the two countries in the last fiscal year that ended in March.