India seeks Russian relief on electronics, engineering goods amid trade imbalance |
New Delhi: India is reportedly urging Russia to ease trade barriers on Indian electronics, engineering goods, food products, and fisheries, in a bid to encourage Moscow to utilise the $50–55 billion worth of roubles that have accumulated in Russian bank accounts due to the oil-driven trade imbalance. The move comes as India seeks to expand non-oil exports to Russia while managing the impact of crude imports on its trade deficit.
According to The Times of India, Indian exporters are facing multiple challenges in accessing the Russian market. In the electronics sector, software-related requirements imposed by Russian authorities have emerged as a key hurdle,........