India is keen to boost trade in this way, said the source, as it tries to narrow a ballooning trade deficit with Russia.
Moscow has sent India a list of more than 500 products for potential delivery including parts for cars, aircraft and trains, four sources familiar with the matter said, as sanctions squeeze Russia’s ability to keep vital industries running.
The list, a version of which has been seen by Reuters in New Delhi, is provisional and it is unclear how many of the items will eventually be exported and in what quantity, but an Indian government source said the request was unusual in its scope.
India is keen to boost trade in this way, said the source, as it tries to narrow a ballooning trade deficit with Russia. Some companies have expressed concern, however, about potentially falling foul of Western sanctions.
An industry source in Moscow, who declined to be named because of the sensitivity of the issue, said Russia’s Ministry of Industry and Trade asked large companies to supply lists of raw materials and equipment they needed.
The source added that further discussion would be needed to agree specifications and volumes and that the outreach was not limited to India.
Russia’s Ministry of Industry and Trade and the Indian foreign and commerce ministries and the prime minister’s office did not immediately respond to requests for comment.
Russia’s requests were made weeks ahead of Indian Foreign Minister Subrahmanyam Jaishankar’s visit to Moscow starting Nov. 7, two of the Indian sources said. It was not immediately clear what was conveyed by New Delhi to Russia during the visit.
Prime Minister Narendra Modi’s government has not joined Western countries in openly criticising Moscow for the war in Ukraine, and has sharply increased purchases of Russian oil that have cushioned it from some of the impact of sanctions.
During the Moscow visit, Jaishankar said India needed to boost exports to Russia to balance bilateral trade that is now tilted towards Russia.
He was accompanied on the visit by senior officials in charge of agriculture, petroleum and natural gas, ports and shipping, finance, chemicals and fertiliser, and trade – which he said showed the importance of ties with Russia.