Russia is seeking more medical equipment from India after sanctions and a logistical standoff following a sharp drop in imports from Europe and China following President Vladimir Putin’s invasion of Ukraine.
medical equipment According to Rajiv Nath, forum coordinator of Association of Indian Medical Device Industry, companies from India and Russia will discuss ways to boost supply during a virtual meeting on April 22. The event was confirmed by Business Russia, a business group that promotes bilateral ties.
India is hoping to boost exports to Russia as the two countries are working on a payment system similar to local currencies used during the Cold War to maintain bilateral trade as Moscow faces wider international turmoil. Is. sanctions, New Delhi has been criticized by the US and its allies for buying more Russian oil after it sought to isolate Russia due to the war in Ukraine.
Currently, India is a negligible player in the Russian market and expects exports to grow by almost 10 times this year 2 billion ($26.2 million), according to Nath.