Russia-India trade relations in terms of increasing geopolitical uncertainty

M. Gubina and S. Sutyrin
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M. Gubina: St. Petersburg University, Saint Petersburg, Russia
S. Sutyrin: St. Petersburg University, Saint Petersburg, Russia

Journal of the New Economic Association, 2023, vol. 58, issue 1, 149-157

Abstract: The article is devoted to exploring of the current state and prospects of Russian-Indian foreign trade relations. Currently, Russia and India are not key partners for each other, since the industrial capabilities of both economies do not contribute to closer ties. Both countries have repeatedly noted the need to increase mutual trade turnover, and serious progress has been achieved in 2022 (primarily due to external factors). India has become one of the benefi ciaries of the current geopolitical circumstances, since it has not joined the embargo imposed by Western countries on Russian oil and petroleum products, but, on the contrary, India has increased imports from Russia. The country is demonstrating the independence of its foreign policy, but at the same time, India is in a focus for Western countries (USA, Great Britain, EU countries, Australia and Japan). The authors have identified well-established areas of Russian-Indian cooperation and identified both promising areas for further collaboration and existing problems.

Keywords: foreign trade; geopolitics; Russia-India; energy resources; partnership (search for similar items in EconPapers)
JEL-codes: F1 F14 F5 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2023:i:58:p:149-157

DOI: 10.31737/22212264_2023_1_149

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