PROSPECTS FOR RUSSIAN-INDIAN COOPERATION TRADE AND ECONOMIC COOPERATION IN THE CONTEXT OF SANCTIONS

Introduction: The article highlights the negative impact of Western sanctions on the Russian economy and emphasizes the importance of cooperation with India to diversify export-import flows. India’s high economic potential and growing role in the global economy make it a priority for Russia’s eastern policy. Methods: The study is based on an analysis of customs statistics, national statistical data, and academic publications. Methods of systematization, generalization, and specification were employed to identify the key areas of bilateral cooperation. Results: The findings underline that the core of bilateral interaction is the supply of oil and gas from Russia to India. However, the trade imbalance necessitates increasing Indian exports and developing joint investment projects. Priority sectors include energy, pharmaceuticals, agriculture, and high technology. Available Data: Trade statistics indicate an increase in turnover from $32.5 billion in 2022 to $65 billion in 2023. India’s main exports include pharmaceutical products, organic chemicals, electronics, and mechanical equipment, while Russian exports primarily consist of oil, fertilizers, and metals. Discussion: The discussion highlights the need to address the trade imbalance through the diversification of Indian exports and strengthening cooperation within multilateral frameworks. Risks related to India’s reorientation toward Western markets are discussed, and measures such as expanding joint ventures are proposed to enhance mutual trust. In conclusion, the article underscores the strategic importance of the Indian direction for Russia and outlines solutions to current challenges in economic relations.