In preparation for EEF 2019, the Roscongress Foundation and the International Trade and Integration (ITI) Research Centre have prepared the Foreign Trade Relations between Russia and India Today analytical digest. The material has been published in the Analytics section of the ROSCONGRESS.ORG Information and Analytical System.
The digest provides an overview of current trends and nuances in trade and economic cooperation between Russia and India. Special attention is paid to opportunities for capacity building in cooperation between the two countries.
According to calculations based on data from the Federal Customs Service, the value of Russian exports to India increased by 20.1% in 2018 and amounted to USD 7,750,000,000. Indian exports to Russia came to USD 2,330,000,000, which is 8.9% more than the previous year and in keeping with total Indian export growth.
A positive trend may be observed in foreign direct investment from India and in projects for the localization of production within Russia.
The growth of mutual trade and diversification of the commodity structure between Russia, as a member state of the EAEU, and India will be facilitated by the signing of the EAEUIndia free trade zone agreement, which is currently in the negotiation stage.
It should be remembered that India is set to become guest country of the 5th Eastern Economic Forum. The Forum will be attended by a representative delegation from India led by Prime Minister Narendra Modi. Indian delegation participation will involve a Russia-India business dialogue involving leading entrepreneurs from the two countries, a presentation of Indias economic, industrial, tourist, and cultural potential, and a special country stand.