Rebalancing India-Russia Trade: Can Putin Soften Trump's Tariff Blow?

Ashok Gulati (), Harsh Wardhan (), Sulakshana Rao () and Raya Das ()
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Ashok Gulati: Indian Council for Research on International Economic Relations (ICRIER)

Indian Council for Research on International Economic Relations (ICRIER) Policy Paper from Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India

Abstract: This policy brief assesses the scope of increasing Indian exports to Russia, focusing on select sectors, hard-hit by Trump's tariffs. In T&A, India faces a significant disadvantage due to 13-14 per cent tariffs, compared to zero-duty for Vietnam. In fisheries, although India’s seafood exports total USD 7.4 billion (2024-25), exports to Russia remain limited at USD 138 million, confined to frozen shrimp. Given Russia's USD 2.12 billion import, significant untapped potential exists in mackerel, trout and other value-added products. In case of agriculture, high-value segments, including processed fruits and vegetables and animal products such as bovine meat create clear openings. Yet high tariffs, SPS barriers, certification delays and logistics costs persist.

Keywords: India-Russia Bilateral trade; agriculture; shrimps; textiles; icrier (search for similar items in EconPapers)
Pages: 28 page
Date: 2025-12
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