Russia prepared to increase imports of food, textiles, electronics, pharmaceutical goods from India, incl. via marketplaces - economy minister

DELHI. Dec 4 (Interfax) - Russia is prepared to increase imports of pharmaceutical products, food, chemicals, equipment, car parts, textiles and electronics to India in order to balance out mutual trade, Russian Economy Development Minister Reshetnikov said during his speech at a Russian-Indian forum on Thursday in Delhi.

He said that some of the goods from India could be sold via Russian marketplaces.

"Our joint task is now to diversify and balance out trade. This is a necessary condition in order achieve the goal set by the leaders of our countries - $100 billion by 2030. We suggest making trade more balanced by increasing imports of pharmaceutical products, food, chemicals, equipment, car parts, textiles and electronics," the minister said.

Reshetnikov said that the negotiations which began last week on concluding a free trade agreement between the Eurasian Economic Union (EAEU) and India would "add momentum to this work."

He also said that considering the large transportation distance, the countries needed to find joint solutions to develop logistics. "There are currently regular shipments via the North-South corridor. We need options for using the Northern Sea Route and the Chennai-Vladivostok Maritime Corridor," he said.

He said that e-commerce also offered additional opportunities.

"We invite Indian producers of food, homeware items, electronics, clothing and footwear to start using Russian marketplaces. This will provide direct access to millions of consumers from Russia and its partner countries," Reshetnikov said.