Union Minister of External Affairs, S Jaishankar, on Monday said Russia is turning more towards Asia after the Ukraine conflict.
Addressing the students' dialogue at the National Institute of Technology, the EAM also highlighted the growth in the economic partnership between India and Russia and said Russia's trade with India was USD 40 billion last year, far ahead of the figure before the Ukraine conflict.
"Till last year, Russia's main economic partner was the Western countries. However, that route was closed after the Ukraine conflict. So, Russia is turning more towards Asia," EAM Jaishankar said.
"Our trade with Russia before the Ukraine conflict was around 12-14 billion dollars, our trade last year was 40 billion dollars," the EAM added.
At the event, Jaishankar also spoke about the growing participation of Asian economies in the world and said, "China is the biggest Asian economy and it will show a path there. I think we should not be worried about what they are doing with other countries, we should keep our own relations going and see how the interest of Indian people is best served."
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Russia turning towards Asia post Ukraine conflict, trade with India improved: EAM Jaishankar
Union Minister of External Affairs, S Jaishankar, on Monday said Russia is turning more towards Asia after the Ukraine conflict.
Addressing the students' dialogue at the National Institute of Technology, the EAM also highlighted the growth in the economic partnership between India and Russia and said Russia's trade with India was USD 40 billion last year, far ahead of the figure before the Ukraine conflict.
"Till last year, Russia's main economic partner was the Western countries. However, that route was closed after the Ukraine conflict. So, Russia is turning more towards Asia," EAM Jaishankar said.
"Our trade with Russia before the Ukraine conflict was around 12-14 billion dollars, our trade last year was 40 billion dollars," the EAM added.
At the event, Jaishankar also spoke about the growing participation of Asian economies in the world and said, "China is the biggest Asian economy and it will show a path there. I think we should not be worried about what they are doing with other countries, we should keep our own relations going and see how the interest of Indian people is best served."
"Today, what we do with other foreign partners actually impacts your life," he added.
Last year, a new S&P Global Market Intelligence report stated that India has emerged as a strong trade partner of Russia and is expected to remain so in 2023.
The report highlighted the anticipated shifts in trade due to the Russia-Ukraine conflict as well as a positive outlook for containerized trade in 2023 despite a mere 0.7 per cent year-on-year (y/y) growth in 2022 led by the estimated slowdown in the second half.
(With inputs from agencies)