As American tariffs hurt Indian goods exports and trigger investment-related uncertainty, Russia President Vladimir Putin’s visit to New Delhi could offer India an opportunity to diversify its exports further, and also bridge the widening trade gap with Russia, which is largely driven by higher crude oil imports following the Ukraine war.

Putin’s two-day visit comes after India and the Russia-led Eurasian Economic Union (EAEU) signed the Terms of Reference (ToR) in August this year, marking the restart of the negotiations for a free trade agreement that were stalled when the Ukraine war began in February 2022. The $5 trillion EAEU grouping comprises Russia, Armenia, Belarus, Kazakhstan, and the Kyrgyz Republic.

Trade talks with EAEU have gathered pace at a time when India’s goods expor

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