Bilateral trade with Russia may reach $10bn by 2010
20 Mar '07
1 min read
Bilateral trade with Russia may surge to US $10 billion by 2010 from the current figure of $4 billion. While attending a seminar in Ludhiana two days back, Russian Deputy Trade Commissioner E A Korshunov informed the press that both nations are making efforts to consolidate two-way trade.
Korshunov added that total trade in 2006 reached $3.9 billion, of which, imports constituted $3 billion while exports made up $900 million.
India has witnessed rise in imports from Russia during last few years. Textile goods, machine tools, software etc, are products having good export potential for Russian markets.
Imports from Russia increased from $623.18 million in 1999-2000 to $3 billion last year, whereas exports declined from $947.92 million in 1999-2000 to $900 million.
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