External Affairs Minister S Jaishankar has made a compelling pitch for Russian companies to deepen ties with India, spotlighting the country’s $4 trillion economy and 7% growth rate as a golden opportunity for collaboration.

Speaking at the India-Russia Business Forum during his three-day visit to Moscow, Jaishankar emphasized India’s need for reliable supplies of critical goods like fertilizers, chemicals, and machinery—sectors where Russia holds a strong global position. “These dimensions represent an invitation for Russian companies to engage more intensively with their Indian counterparts,” he said, as quoted by ANI.

The call comes amid escalating tensions with the US, where President Donald Trump has imposed a 50% tariff on Indian goods, including a 25% penalty for India’s continued purchase of Russian crude oil, which accounts for nearly 40% of India’s energy imports. Both nations have condemned the tariffs as “unfair” and “unjustified,” with India’s Foreign Ministry spokesperson Randhir Jaiswal warning that New Delhi will take “all actions necessary” to protect its economic sovereignty.

Jaishankar’s visit, which includes meetings with Russian Foreign Minister Sergey Lavrov and First Deputy Prime Minister Denis Manturov, aims to bolster the “time-tested” India-Russia partnership and prepare for President Vladimir Putin’s upcoming visit to India.

Jaishankar highlighted India’s Make in India initiative and rapid urbanization as catalysts for new business opportunities, particularly in infrastructure, where Russia’s expertise could play a pivotal role. “An India growing at 7% for the foreseeable future has an obvious need for large resources from dependable sources,” he noted, urging diversification to address the growing trade deficit, which has surged despite bilateral trade rising from $13 billion in 2021 to $68 billion in 2024-25.

He also celebrated the recent agreement on Terms of Reference for a Free Trade Agreement with the Eurasian Economic Union, a move expected to ease trade barriers and enhance connectivity through corridors like the International North-South Transport Corridor and the Chennai-Vladivostok Corridor.

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The minister’s push reflects a strategic pivot to counter US economic pressure, with Russian diplomat Roman Babushkin affirming Moscow’s readiness to absorb Indian exports hit by tariffs. As global trade tensions mount, Jaishankar’s remarks underscore India’s resolve to strengthen ties with reliable partners like Russia, ensuring economic resilience in a volatile geopolitical landscape.

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