Russia eyes Indian pharma, electronics, fruits to narrow trade gap

Russia is looking to significantly increase imports of pharmaceuticals, electronics, services and agricultural products from India as Moscow seeks to narrow the growing trade imbalance and strengthen bilateral economic ties, Vladimir Padalko, Vice-President of the Russian Chamber of Commerce, said on Friday.
Speaking on the sidelines of the BRICS Business Forum, Padalko said Russia is seeking to diversify its sources of imports and sees India as an important partner, particularly in sectors where Indian companies have strong export capabilities.“Electronics, of course, and pharma. We are also very, very interested in increasing agricultural goods,” Padalko said, highlighting the potential for greater Indian exports to the Russian market.He said Russia is particularly interested in importing exotic fruits from India, citing the two countries’ contrasting geographical and climatic conditions as an opportunity to expand agricultural trade.“We are interested in increasing, first of all, exotic fruits, for example grapes and so on,” Padalko said.
However, he stressed that better logistics and supply-chain connectivity would be crucial for expanding trade in perishable agricultural products. Improved transportation and distribution networks could help Indian exporters access Russian markets more efficiently while supporting the growth of bilateral commerce across other sectors.The push to diversify imports comes as India and Russia seek to achieve the ambitious target of $100 billion in bilateral trade by 2030. Increasing Indian exports could play an important role in addressing the trade imbalance while creating new opportunities for Indian businesses in pharmaceuticals, electronics, agriculture and services.The two countries are also exploring wider industrial cooperation, with the steel sector emerging as an important area for long-term economic partnership.
Prime Minister Narendra Modi and Russian President Vladimir Putin visited the India Steel Pavilion at INNOPROM India 2026 at Bharat Mandapam, New Delhi. Set up by the Ministry of Steel, the pavilion, themed “Forging Together – For Infinite Progress”, showcases the growth and capabilities of India’s steel industry while highlighting opportunities for deeper cooperation with Russia.

#WATCH | Delhi: Prime Minister Narendra Modi and Russian President Vladimir Putin visit the INNOPROM Exhibition at Bharat Mandapam.

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The pavilion presents collaboration opportunities across areas including coking coal, nickel, speciality steel, research and development, and advanced steel technologies. Key public sector enterprises, including SAIL, NMDC, MOIL and MECON, are showcasing their technological capabilities and potential partnerships with Russian companies across the steel and mining value chain.During INNOPROM India 2026, a session on “India–Russia Collaboration on Steel Value Chain” was also held as part of the India–Russia Business Dialogue, with participation from senior officials, industry representatives and leading Russian steel, mining and metallurgical companies.
The discussions focused on investment, technology exchange, sustainable production and supply-chain resilience. Both sides underlined the complementary strengths of India and Russia across the steel value chain, including raw materials, metallurgical technologies, production and downstream applications.With Russia seeking greater imports from India and both countries expanding cooperation in sectors ranging from pharmaceuticals and electronics to agriculture and steel, the focus is increasingly shifting towards creating a more balanced and diversified trade relationship.

(Business Correspondent)