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India’s engineering, pharma, agri exports hold tremendous potential in Russia
Dec-15-2025

As India-Russia aim for $100 billion bilateral trade by 2030, it offers tremendous potential for Indian exporters to push their high-potential products like engineering goods, pharma, agri, and chemicals to Russia. Besides, the rise in exports will help India to bridge its $59 billion trade deficit with Russia. The country has exported $1.7 billion worth of goods to Russia this year, meanwhile, its imports from Russia stood at $37.4 billion. The imports from Russia grew more than tenfold to $64.24 billion in 2024 from $5.94 billion in 2020, entirely driven by mineral fuels or crude oil imports. On the other hand, Indian exports constitute just around 2.3% of Russia's import basket. 

The bilateral trade target offers great opportunity for Indian exports of agriculture and allied products. India’s agriculture and allied exports to Russia currently stood at $452 million against their global import demand of $3.9 billion. Further, the exports of engineering goods will benefit as Russia diversifies away from China. The trade of engineering goods represents widest gap with Indian exporting $90 million worth of goods to Russia, while Russia imports $2.7 billion in this segment. 

Similarly, in chemicals and plastics segment, India contributes $135 million to a demand of $2.06 billion. In pharmaceuticals space, India exported $546 million worth of pharma goods to Russia, however, Russia’s imports stood at $9.7 billion, making generics and APIs (active pharma ingredients) significant growth levers. 
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