
Abhijit Bhattacharyya | After US, UK, EU; it’s time for India FTA with Russia
Deccan ChronicleIt is a truism in economics that anyone -- whether it be an individual or a country -- must not “put all eggs in one basket”. While negotiations are in various stages for India’s FTA with the US, UK and Europe, it may be time to break new ground. Hasn’t Russia been one of India’s steadiest friends and partners for over seven decades, repeatedly come to India’s rescue in the UN Security Council with its veto on issues like J&K during conflict times? Let’s take a look at India-Russia bilateral trade figures, based on information on the website of India’s embassy in Moscow. Russia’s $61.44 billion surplus, on the other hand, was earned through exporting oil, petroleum products, fertilizers, bituminous substance, mineral fuel, machinery, precious stones, wood, paper metal, vegetable oil.
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