India Seeks "More Balanced" Trade With Russia, Says Envoy
NDTV
Russia has become a major oil supplier to India. India's appetite for Russian oil swelled ever since it started trading on discount as the West shunned it to punish Moscow for its invasion of Ukraine.
India welcomes the growth of trade with Russia which has reached USD 27 billion this year mainly due to its purchasing of large volumes of oil and fertilisers from Moscow, but New Delhi wants it to become "more balanced", India's Ambassador to Moscow Pavan Kapoor has said.
Russia has become a major oil supplier to India. India's appetite for Russian oil swelled ever since it started trading on discount as the West shunned it to punish Moscow for its invasion of Ukraine.
Russia emerged as India's fifth largest trading partner during April-September this fiscal year with a bilateral trade of USD 22.7 billion during the six-month period.
"Trade has risen considerably this year since April, mainly due to our country's purchasing large volumes of oil and fertilisers," Kapoor told a forum on Thursday.
