Indian Exporters Delegation Visits Moscow, Expands Export Market Amid Trump Tariffs

UNSPLASH/Akash Singh ILLUSTRATION

JAKARTA - India's major exporter delegation will start a four-day visit to Moscow on Tuesday, November 11 tomorrow. This visit is part of New Delhi's efforts to diversify the export market amid the impact of a sharp increase in tariffs by US President Donald Trump.

This visit comes ahead of Russian President Vladimir Putin's visit to India next month.

The delegation will consist of more than 20 exporters from the engineering sector - a sector that accounts for nearly a fifth of all exports of Indian merchandise - and the visit is part of a broader strategy to enter the new market, industry officials said.

Trump previously doubled India's import rate to the US to 50% in punishment for the purchase of Russian oil by India, which pushed bilateral relations to their lowest point in decades, although the two countries are now working to reach a trade deal.

"Russia has become an important business partner for India, and the engineering and equipment sector presents a significant potential collaboration," said SC Ralhan, president of the Federation of Export Organizations of India (FIEO), who led the delegation. November.

"Our technical exports to Russia are growing rapidly and are expected to reach $1.75 billion this year," he said.

The visit aims to strengthen commercial relations and promote Indian manufacturing in the Russian market.