India Russia Trade Relationships

India is a strategic partner of Russia. They have trade relations to benefit both the countries. India imports metals, minerals coking coal and crude oil from other countries. Russia is rich in mineral resources and produces a number of metals, alloys and chemicals. Russia is rich in mineral resources like bauxite, copper, lead, zinc, gold, iron ore nickel, cobalt and molybdenum. It is also rich in coal, crude oil, natural gas and lime stone. Minerals of arsenic, silver, vanadium and titanium are also found in Russia. Other minerals like asbestos, lime stone, diamond, boron and gemstones are also found in large quantity. Russia used to export minerals and metals to countries like Germany, Italy, UK, USA, Spain, Portugal Turkey and India. Due to the conflict between Ukraine and Russia, there are sanctions against Russia. So,it is not able to export the minerals and metals to these countries. India imports metals, alloys, crude oil, coking coal and raw diamond from Russia. India also imports military equipment and hardware from Russia. India exports food products, tea, coffee, fruits, vegetables, nuts fishes and rice. Russia also imports leather products, woolen garments, textiles and handicrafts from India. Due to sanctions against Russia the export of food items from USA, UK, Germany and other countries are restricted. In order to fill this gap, India may increase its food supply to Russia. The old barter system of trade between India and Russia may be revived to help each other. India may get metals, minerals, crude oil and coking coal on a long term basis. Similarly, Russia may get continuous food supply from India. The military production facilities of Russia may be extended to India. The strategic partnership may turn into economic partnership on mutual trust and friendship.