Russia’s envoy Denis Alipov said that despite Western sanctions, India And Russia will continue to strengthen its bilateral and trade ties, speaking to news agency Sputnik India.
He said that there were some issues regarding trade in Ukraine after the conflict but both the countries have successfully overcame those difficulties.
“In the first months after the start of a special military operation Ukraine There were some difficulties in supplying Russian goods to India and vice versa. However, today we have successfully overcome most of these hurdles,” Alipov was quoted as saying by Sputnik News India.
Alipov said Russia has high hopes for the implementation of the International North-South Transport Corridor (INSTC) project. The objective of the INSTC project is to increase connectivity between Central Asia and Europe.
The INSTC project is a 7,200 km long multi-mode transport project that will be built to move goods from Mumbai to Chabahar to Azerbaijan to Moscow, and will include India, Iran, Afghanistan, Armenia, Russia, Belarus, Bulgaria, Kazakhstan, Kyrgyzstan . Oman, Syria, Tajikistan, Turkey and Ukraine.
India, Russia and Iran have shown interest in realizing this project.
He also said that the closure and exit of Western businesses opens up possibilities for Indian companies. He said Indian companies can help Russia’s metallurgical, aviation, wood-processing and consumer goods production industries. “The Russian business community is very serious about strengthening ties with India,” Alipov said.
He said the challenges from the sanctions would continue to grow but that would not affect relations between the two countries. Alipov said that Russia is confident that Indian exports to Russia will increase in the near future.
Alipov also said that India-Russia partnership has strengthened at many levels. They underlined that cooperation has expanded in the fields of communications, diamond processing, forestry, health care and pharmaceuticals, tourism, railroads, metallurgy, civil aviation, shipbuilding and oil refining.
The envoy also pointed out that military and military-technical cooperation is also being strengthened.
He also said that the figures speak for themselves. He said bilateral trade is worth $6.4 billion, which is more than double compared to the same period last year.
If these volumes can be maintained, the turnover will exceed $19 billion by the end of the year, he said. He also said that bilateral trade reached a record $13.6 billion in 2021.
The envoy said Russia sees “good prospects” in India’s pharma, leather, textile and agriculture sectors. He also said that machinery and equipment, telecommunications equipment, components for organic chemical products are the areas where Russia sees good opportunities to cooperate and expand cooperation.
(with inputs from ANI)
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