India shared a list of products with Moscow for access to Russian market - minister

Record ID: 1700993

  • Title: India shared a list of products with Moscow for access to Russian market - minister
  • Date: 5th December 2022
  • Summary: NEW DELHI, INDIA (DECEMBER 05, 2022) (ANI - No use India) GERMAN FOREIGN MINISTER ANNALENA BAERBOCK AND INDIAN FOREIGN MINISTER SUBRAHMANYAM JAISHANKAR ARRIVING FOR NEWS CONFERENCE (MUTE) (SOUNDBITE) (English) INDIAN FOREIGN MINISTER, SUBRAHMANYAM JAISHANKAR, SAYING: "We have given the Russians a set of…a set of I would say products which we believe we are very competitive in and which we feel should be getting access to the Russian market." AUDIENCE LISTENING (SOUNDBITE) (English) INDIAN FOREIGN MINISTER, SUBRAHMANYAM JAISHANKAR, SAYING: "We will see where there is a demand in supply and where there is a fit. I think largely…a large part of it would be determined by market because in our country business is mostly in private sector hands but…you know I don't think people should read anything more into it other than the legitimate expectations of any trading country to increase its trade." JAISHANKAR AND BAERBOCK SIGNING AND EXCHANGING DOCUMENTS (MUTE) JAISHANKAR AND BAERBOCK WALKING OUTSIDE / STANDING IN FRONT OF FLAGS, SHAKING HANDS (MUTE) JAISHANKAR SPEAKING DURING BILATERAL MEETING (MUTE) DELEGATIONS AT TABLE (MUTE) VARIOUS OF BAERBOCK VISITING MEMORIAL AT GANDHI SMRITI MUSEUM
  • Embargoed: 19th December 2022 12:36
  • Keywords: germany india markets russia sanctions trade
  • Location: NEW DELHI, INDIA
  • City: NEW DELHI, INDIA
  • Country: India
  • Topics: Asia / Pacific,Government/Politics,International Trade
  • Reuters ID: LVA001451805122022RP1
  • Aspect Ratio: 16:9
  • Story Text: India gave a list of Indian products to Moscow for access to Russian markets, Foreign Minister Subrahmanyam Jaishankar said on Monday (December 5), as his country seeks to narrow a growing trade deficit with Russia at a time when Moscow faces acute shortages of some crucial materials following Western sanctions.
    "We have given Russians a set of products which we believe we are very competitive in and which we feel should be getting access to the Russian market," Jaishankar told reporters in a briefing with his German counterpart Annalena Baerbock, who is on a visit to India.
    Reuters reported last week that Moscow had sent India a list of more than 500 products for potential delivery, including parts for cars, aircraft and trains, as sanctions following Russia's invasion of Ukraine squeeze its ability to keep vital industries running.
    Russia has been India's largest supplier of military equipment for decades and it is the fourth-biggest market for Indian pharmaceuticals. But with India's purchases of Russian oil soaring and coal and fertiliser shipments also strong, the South Asian nation is looking for ways to rebalance trade.
    The minister added that discussions on expanding trade have been going on for some time, and even before Russia's invasion of Ukraine on Feb. 24.
    (Production: Thomas Holdstock)
  • Copyright Holder: ANI (India)
  • Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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