Import can reach 50 billion dollars
According to a Times of India report, if India’s trade with Russia continues to grow in the same way, Russia’s imports could reach $50 billion. However, this is much lower than the value of goods shipped from the US, which is the third largest source of imports for India. According to a report by news agency Reuters, India’s fertilizer imports from Russia have increased by 371 per cent in the first 6 months of the year beginning April 1. This record has become 2.15 million tonnes. Amid growing bilateral trade with Russia, India is trying to facilitate trade in the local capital. India has been looking for a way to trade with Russia in rupees since the Russia-Ukraine war broke out in February last year, but the countries are yet to formalize the rules. According to officials in New Delhi, India is also looking to increase exports of electronic goods to Russia.
India has strong relations with Russia
India’s relations with Russia have been very strong. India also buys a large amount of arms from Russia. According to statistics, since 1991, India has bought military equipment worth $ 70 billion from Russia because Russian weapons are also cheaper than American equipment. The friendship between Putin and Modi is also very strong. How India’s strength is increasing on the world stage can be understood from the statement of Russian President Vladimir Putin. The Russian President has praised India’s Prime Minister Narendra Modi on several occasions.
India did not go against Russia
European countries started imposing sanctions on Russia after Russia’s attack on Ukraine. Some other countries, including America, wanted that whatever decision they were taking, other countries should also accept it. America and western countries were expecting India to support them in action against Russia but India was firm on its stand. After this, India took a big decision to import oil from Russia. Many countries were also surprised by this decision, while India had told that whatever is in the interest of the country will happen. India had made it clear on this whole issue last year that the way other countries give importance to their own interests, similarly India will take a decision keeping in mind its historical relations with Russia.
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