For our country, India is the most important trade partner and a priority region, which is the focus of the development of the Russian non-primary product exports, as TASS quotes the head of the Russian Export Centre, Andrey Slepnev. In his words, over the past three years, the positive dynamics of bilateral trade have been maintained.
At the end of last year, non-primary non-energy exports from Russia to India actively grew in different directions. Thus, the supply of thermal equipment increased by 6.1 percent to $330.5 million, electric motors and generators – almost 3.5 times, exceeding $84 million. Exports have also increased for other commodities, such as newsprint, mixed fertilisers, information media, and equipment for nuclear reactors.
Russian exporters show a growing interest in bringing their own competitive and high-tech solutions to the Indian market in such areas as IT, pharmaceuticals, biotechnology, the food industry and some others. The top 5 regions for non-primary non-energy exports to this South Asian country include Moscow ($1.15 billion), the Nizhny Novgorod region ($650 million), St. Petersburg (588.4), the Moscow region (476.3) and the Sverdlovsk region (292).
Currently, India ranks eighth among the partner countries of the Russian Federation for non-primary non-energy exports. We should remind you that, earlier, it was reported that the Ministry of industry and trade and the Russian Export Centre inaugurated the REC Bureau in Mumbai.
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