11/11/2024

 

This is almost $2 billion more than last year, the Ministry of Commerce and Economic Development of India reports in a press release. Let's figure out what causes this growth, as well as who can benefit from it.

Let's start with Russia's role in trade with India. Russia is one of India's leading trading partners, and is also among the country's top 10 key importers.

Now let's look at what goods from Russia are in demand in India.

Raw materials are, of course, in first place. But here, as we have already said, only giant companies can make money. Russia is the largest oil exporter to India. In addition, there are plans to begin supplying liquefied natural gas to the country.

Fertilizers are in second place. As we know, agriculture is very developed in India. The country grows various crops and sells them to other countries. And India needs fertilizers for growing. And high-quality ones. And Russia has exactly those.

Small businesses can also make money on the supply of fertilizers to India. Logistics is developed, and most importantly, the country is ready to buy large quantities of goods. And this is a great chance for suppliers and manufacturers from the Russian Federation.

In third place are metals. But here, as with raw materials, almost the entire percentage of supplies is made by giant companies.

Other goods from Russia that India needs

Agricultural products. In addition to the fact that India produces a lot of raw materials, it also consumes a lot. Therefore, the country needs goods from this sector. Russia has already become the main supplier of sunflower oil. India is also the largest buyer of Russian soybean oil. Lentils are also in the top purchases.

Market experts say that in the near future the top supplies will also include:

Fat and oil products;

Other legumes;

Juices, waters and other drinks.

And now about an unusual product in demand on the Indian market: furniture. Yes, ready-made furniture.

In recent years, people in India have begun to earn more, more people are moving into apartments. And apartments need to be furnished with something. Considering that furniture from the Russian Federation is already known to buyers and is not as expensive as from other countries.

Software can also be included in this category. The country is ready to buy developments from Russia, as well as participate in joint developments.

This market may be of interest to developers and designers. First of all, it is worth paying attention to joint projects: robotics, fintech, AI and others.

Conclusion

Trade turnover with India is increasing, and doing so at a high rate. Considering that the country is ready to buy goods from different categories and from different areas, almost every entrepreneur can benefit from working with partners from India.

However, it is always worth considering the risks and understanding the realities in which the market exists and in which we live. Now in trade and logistics, everything is changing very quickly. You need to be prepared for this in order to be able to adapt to the situation and make a profit from it for yourself and your company.