New Delhi, Sep 10: According to a Strategy Partners study presented by Sber at the Innoprom. India exhibition, imports of goods from India to Russia could triple over the next five years. This was reported by TASS.
According to the study, over ten years, trade turnover between Russia and India grew 11-fold — from $6.3 billion to a record $68.7 billion in 2025. The theoretical potential of Indian exports is estimated at $35.7 billion, and the achievable increase by 2030 will be $11 billion, which will ensure a threefold growth relative to the 2024–2025 level.
«India exports goods and services worth more than $860 billion a year, with Russia accounting for just under 1% of that volume. In the base scenario, if tariff and certification barriers are removed, Indian exports to Russia could grow by $10–20 billion over five years. This will make the structure of bilateral trade more balanced,» TASS quotes the comment of Ivan Nosov, CEO of SberIndia.
According to him, if previously purchases were limited to pharmaceuticals, rice, tea, certain types of chemical products and textiles, now the supply structure includes automotive components, industrial chemicals and electronics.
As noted in the study, over ten years trade turnover between the countries has grown, but its structure remains asymmetric: India's exports to Russia amount to only $4.9 billion, while the Indian side's trade deficit reached $58.9 billion. The basis of Russian exports is crude oil, which, according to experts, will remain so in the future, and rebalancing is possible only through the growth of Indian industrial exports.
Among the main barriers constraining the growth of Indian exports, experts highlight delivery times and costs, a shortage of refrigerated capacity, GOST-R certification, as well as price competition with Chinese suppliers. Duties on certain groups of goods remain an additional constraint.
