Trade and Investment Cooperation between Russia & India

+ Growth of Russia – India trade
+ Investments
+ Major items imported by Russia
+ Major items imported by India
+ Sectors of growth

Growth of Russia - India trade

The Federal Customs Service of Russia reported a 7,5% increase in Russian-Indian trade in 2009 from the 2008 figure to USD7.46 billion. In January-February 2010, it grew by 40%, with a 40% increase in Russian exports and in imports. Over the past five years, Indian exports of pharmaceuticals to Russia have more than doubled.

Investments

Indian investments in Russia, mainly in the hydrocarbon sector, total $4.25 billion, while Russian investments in India add up to $1 billion, predominantly in the telecom sector.

Major items imported by Russia from India are:

Major import items in 2009 were pharmaceuticals (30%, US$464 million), machinery and equipment, transport vehicles and instruments (18%, US$268 million), agricultural produce and food (11%, US$165 million) and textiles (10%, US$156 million).

Major items imported by India from Russia are:

In 2009, machinery and equipment accounted for 51% of total imports by India and amounted to US$3.03 billion; fertilizers for 13% (US$0.8 billion), ferrous metals and related products for 9% (US$530 million).

Sectors of growth

Russia and India have good potential for developing cooperation in the areas of power engineering, including nuclear, oil and gas, metallurgy, telecommunications, machinery and automobile industry, aircraft building, railway and water transport, fertilizers and chemicals, pharmaceuticals, agricultural and processed food products, ready made garments and textiles, gems and jewelry, infrastructure, space, science and technology, including information, bio-and nanotechnologies, banking and financial services, tourism etc.