The imbalance in India-Russia trade needs to be combated on a “very urgent basis", external affairs minister S. Jaishankar warned as two-way trade surged to a record $45 billion between April 2022 and February 2023 on the back of Indian purchases of cheap Russian oil.
“Addressing that imbalance really means addressing the impediments, whether they are market access impediments, whether they are non-tariff barriers, whether they are related to payments or to logistics. I really cannot emphasize this enough," said Minister Jaishankar.
He was speaking at an event organized by FICCI on India-Russia economic ties.
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