The Indian national flag and the Russian flag flutter on a lamp post against the backdrop of India Gate. (Photo: PTI) Show Quick Read Summary is AI Generated. Newsroom Reviewed

India and Russia are looking to balance their oil-heavy bilateral trade with imports from key sectors like agriculture, pharmaceuticals, textiles and electronics, according to statements issued by officials on both sides on Thursday, at sidelines of the FICCI India-Russia Business Forum.

Maxim Reshetnikov, the Russian minister of economic development, said the joint goal is to balance and diversify the existing bilateral trade. To achieve this target, import of pharmaceuticals, chemicals, spare parts, textiles, electronics from India will be vital, he underlined.

The minister added to further this goal, impo

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