2030 India, Russia aim for $100 billion bilateral trade target by 2030 \ stacker news ~econ

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2030 India, Russia aim for $100 billion bilateral trade target by 2030 www.business-standard.com/economy/news/india-russia-aim-for-100-billion-bilateral-trade-target-by-2030-124070901077_1.html

835 sats \ 17 comments \ @Coinsreporter 9 Jul econ

Big Question: How can both Russia and India improve trade deficit?

India and Russia are looking to raise bilateral trade to $100 billion by 2030, balance the lopsided trade, eliminate non-tariff trade barriers, and explore the possibility of a Eurasian Economic Union (EAEU)-India Free Trade Area.

India’s bilateral trade with Russia stood at $65.6 billion in FY24, up 33 per cent year-on-year, and nearly 5.5 times higher than the pre-pandemic trade of $10.1 billion. The bilateral trade has increased especially since 2022 with Indian fuel importers snapping up discounted Russian crude despite repeated criticism by Western nations.

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45 sats \ 8 replies \ @Undisciplined 9 Jul

I imagine bilateral trade is primarily air cargo between India and Russia. There's a lot of unfriendly geography in between.

122 sats \ 7 replies \ @IamSINGLE 9 Jul

This one is the route for most trades and for smaller and lightier air cargo is used.

https://m.stacker.news/38909

There is also a proposed sea route between the ports of Chennai and Vladivostok.

43 sats \ 3 replies \ @TomK 10 Jul

yes yes, whoever controls the bottlenecks controls world trade (Houthies...)

56 sats \ 0 replies \ @IamSINGLE 10 Jul

Comeon! Houthies are there for Americans and Europeans!! 😜

56 sats \ 1 reply \ @Coinsreporter OP 10 Jul

I don't think these bottlenecks can impact the trade between India and Russia. They'll be played like ants if they will!

0 sats \ 0 replies \ @TomK 10 Jul

I meant it in that sense

22 sats \ 1 reply \ @Undisciplined 9 Jul

I'd expect most of whatever starts out on the "standard route" to end up in those nearer EU countries. That's just from a naive trade theory perspective, though.

56 sats \ 0 replies \ @IamSINGLE 9 Jul

This won't be forever. Russia and India are planning a train+road route to Oran and from there goods will be shipped to Mumbai port. (See the red line)

11 sats \ 0 replies \ @Coinsreporter OP 9 Jul

Thanks! You saved me a lot of time!!

11 sats \ 1 reply \ @TomK 10 Jul

It is very difficult for us Europeans and Americans to admit that the growth of the future could take place in this area if we do not return to market economy principles and open markets. But it is happening before our eyes and it will happen without the dollar and without the euro.

45 sats \ 0 replies \ @Coinsreporter OP 10 Jul

The Europeans and Americans are running backwards. This is the problem.

24 sats \ 1 reply \ @SatsMate 10 Jul

This may be India on the naughty list by the USA and other European countries. This could further the creation of a multipolar world.

25 sats \ 0 replies \ @Coinsreporter OP 10 Jul

Being the third or fourth strongest country, India has been playing it all safe. I don't see India takes side of NATO or Russia until forced to do so.

11 sats \ 0 replies \ @160ed04091 9 Jul

Both India and Russia can Negotiate and implement trade agreements that facilitate smoother trade relations and reduce barriers

11 sats \ 0 replies \ @Akg10s33 9 Jul

I think that this conciliation of both countries is good and will generate gains and benefits for both economies... with a view to a not too distant future because we are talking about results in less than 10 years... so it is something quite ambitious and that I'm sure it will be successful 👍

11 sats \ 1 reply \ @ecchipen 9 Jul

they still use $ (dollars) I thought russia going to make dollar killer ?

34 sats \ 0 replies \ @Coinsreporter OP 9 Jul

Yes, they sure do. They need to. However they are trying hard to remove their dependency on $$$