Thanks to ongoing Russia-Ukraine war, many foreign exporters and countries have put several sanctions on Russia to squeeze its will to fight. However, India is still in standing mode by not taking any sides in the ongoing war of former USSR countries.
As sanctions restrict Russia’s ability to maintain its essential sectors, Moscow has handed India a list of more than 100 items, including parts for vehicles, aeroplanes, and trains, according to four persons with knowledge of the situation.
The list is tentative, and it is unknown how many of the items would ultimately be exported or in what number, but an Indian government source said the request was uncommon in its extent.
According to the source, India is eager to increase commerce in this way as it seeks to reduce a growing trade deficit with Russia. However, several businesses have expressed worry that they would violate Western sanctions.
Due to the sensitivity of the subject, a business source in Moscow who wished to remain anonymous said that the Ministry of Industry and Trade of Russia requested lists of the raw materials and machinery that big businesses needed.
The insider also said that the outreach was not just confined to India and that more conversation was needed to settle on standards and volumes.