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HomeNationalIndo-Russian trade to continue despite Western sanctions: Russian envoy MPNRC News
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Indo-Russian trade to continue despite Western sanctions: Russian envoy MPNRC News

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Russian Ambassador to India Denis Alipov (Photo: Twitter / usRusEmbIndia)

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New Delhi: Russia’s Ambassador Denis Alipov on Tuesday underlined the strength of bilateral relations with India and said that despite the Western sanctions on Moscow, the positive pace of trade between the two countries would continue.

In an interview with Sputnik News India, Alipov said there were some difficulties in trade after the start of the Ukraine conflict but both countries have successfully overcome most of these obstacles. He said sanctions would certainly create challenges but cooperation would continue on the basis of common interests.

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“Unfortunately, in the first months after the start of the special military operation in Ukraine, there were some difficulties in supplying Russian goods to India and vice versa. However, today we have successfully overcome most of these obstacles. We are confident that in the near future, Russia will be able to boost Indian exports (including science-focused goods), ”he said.

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The Ambassador noted that the objectives set at the Annual Bilateral Summit in New Delhi in December 2021 were fully consistent with the enormous potential of bilateral relations.

“India-Russia partnership works at all levels. We are expanding cooperation in the areas of transportation, diamond processing, forestry, healthcare and pharmaceuticals, tourism, railways, metallurgy, civil aviation, shipbuilding and oil refining. Our military and military-technical cooperation is getting stronger, ”he said.

The Russian ambassador said that the dynamics of bilateral trade speaks for itself.

“According to India’s statistics, from January to April 2022, it was USD 6.4 billion. This is almost double the number in the same period last year. If we maintain this figure throughout the year, by the end of 2022, our turnover will exceed USD 19 billion. In this context, let me remind you that last year we had a perfect record of USD 13.6 billion. . ”

Alipov said Russia sees good opportunities for Indian pharmaceutical products, leather and textiles, agricultural products, machinery and equipment components, telecommunications equipment, and organic chemistry products.

“We expect increased turnover of services in sectors such as tourism, finance and insurance, telecommunications and information technology, transportation and construction,” he said. We have high hopes for the implementation of the International North-South Transport Corridor (INSTC) project, ”he said.

Since the start of the Russia-Ukraine war in February, the United States and the European Union have imposed a number of sanctions on Russia, along with other partner countries, including targeted sanctions, economic sanctions and diplomatic measures.

The purpose of the economic sanctions is to impose on Russia the serious consequences of its actions and to effectively thwart Russian actions in Ukraine and cripple its economy. Alipov said the withdrawal of many Western companies from the Russian market has opened up many new opportunities for Indian businesses.

“The Russian business community is very serious about strengthening ties with India. Russia invites Indian companies in the aviation and metals industries, wood-processing chains and consumer goods companies for business cooperation, ”the ambassador said.

“Our main task today is to adapt our trade and economic relations to new realities, prioritizing the increasing use of national currencies, and synchronizing the payment systems of both countries,” he added.

Also read: UK Finance Minister Rishi Sunak and Health Minister Sajid Javid resign from Boris Johnson government

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