External Affairs Minister S. Jaishankar has urged Russian companies to step up trade with India as the US raises tariffs on Indian goods to 50%.
He highlighted that India’s economy, now over USD 4 trillion and growing at 7%, demands reliable supplies of fertilisers, chemicals, and machinery. Rapid urbanisation and infrastructure growth, also create strong business opportunities he said.
Despite India and Russia sharing one of the steadiest relationships among major powers, Jaishankar noted that economic cooperation remains limited, with a narrow trade basket and widening deficit. He called for urgent efforts to diversify and balance trade.
Jaishankar also announced the conclusion of Terms of Reference for a Free Trade Agreement with the Eurasian Economic Union, urging businesses to align with government efforts and build a stronger, sustainable economic partnership.
