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Rebalancing India-Russia Trade: Can Putin Soften Trump's Tariff Blow?

Author

Listed:
  • Ashok Gulati

    (Indian Council for Research on International Economic Relations (ICRIER))

  • Harsh Wardhan

  • Sulakshana Rao

  • Raya Das

Abstract

This policy brief assesses the scope of increasing Indian exports to Russia, focusing on select sectors, hard-hit by Trump's tariffs. In T&A, India faces a significant disadvantage due to 13-14 per cent tariffs, compared to zero-duty for Vietnam. In fisheries, although India’s seafood exports total USD 7.4 billion (2024-25), exports to Russia remain limited at USD 138 million, confined to frozen shrimp. Given Russia's USD 2.12 billion import, significant untapped potential exists in mackerel, trout and other value-added products. In case of agriculture, high-value segments, including processed fruits and vegetables and animal products such as bovine meat create clear openings. Yet high tariffs, SPS barriers, certification delays and logistics costs persist.

Suggested Citation

  • Ashok Gulati & Harsh Wardhan & Sulakshana Rao & Raya Das, 2025. "Rebalancing India-Russia Trade: Can Putin Soften Trump's Tariff Blow?," Indian Council for Research on International Economic Relations (ICRIER) Policy Paper 57, Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.
    • Handle: RePEc:bdc:ppaper:57
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