♤ In December 2014, the leaders of the two countries set a target of US $ 30 billion bilateral trade by 2025.

♤ According to Russian Federal Customs Service data, bilateral trade during in 2016 amounted to US$ 7.71 billion (decline of 1.5 % over 2015), with Indian exports amounting to US$ 2.39 billion and imports from Russia amounting to US$ 5.32 billion.

♤ Major items of export from India include pharmaceuticals, tea, coffee and tobacco, machinery and mechanical appliances, organic chemicals, and electrical machinery and equipment.

♤ Major items of import from Russia include pearls, precious and semi-precious stones & metals, nuclear power equipment, electrical machinery and equipment, mineral oil & products, iron & steels, and optical, precision and surgical equipment.

1.2.4.1. Enhancing Economic Ties: Trade

♤ India and Russia are exploring various ways for enhancing bilateral trade. A few important steps/projects that could provide a major boost to bilateral trade are: