Commerce and Industry Minister Piyush Goyal on Thursday set the tone for a renewed push in India–Russia economic engagement, stating that both countries have “huge opportunities” to expand bilateral trade and work toward a more balanced partnership. Speaking at the India–Russia Business Forum organised by FICCI, Goyal stressed that while trade is nearing USD 70 billion, India cannot afford to remain complacent. “We need to grow, we need to balance that,” he said, underscoring the urgent need to reduce the sharply skewed trade equation. Advertisement

Goyal highlighted several sectors that hold strong potential for expanding Indian exports to Russia. These include consumer goods, food products, automobiles, tractors, heavy commercial vehicles, smartphones and other electronics, industrial

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