USA, EU sanctions on Russia provide an opportunity for Indian exporters: FIEO
The Dollar Business Bureau | @TheDollarBiz Though India has lost share in several major export sectors to Russia in the last 10 years, the decision by USA and EU to impose sanctions on Russia may help open new avenues for Indian exporters, says M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO). Despite strong bilateral ties, trade between India and Russia remains stunted. According to the Ministry of Commerce, trade between the two countries stood at around $6 billion in FY2013-14, which is a fraction of India’s total annual trade of around $764 billion, and there are 33 countries with which India does more trade than Russia. M. Rafeeque Ahmed, President, FIEO The FIEO President says that this is mainly ...
