An Indian trade delegation to visit Moscow as U.S. tariffs hit exports

NEW DELHI  - As part of New Delhi's effort to diversify export markets in the face of U.S. President Donald Trump's drastic tariff increases, a sizable delegation of Indian exporters will begin a four-day visit to Moscow on Tuesday, according to a senior trade body official.

The visit precedes Russian President Vladimir Putin's anticipated trip to India next month. 

More than 20 exporters from the engineering sector, which accounts for almost a fifth of all Indian merchandise exports, will make up the delegation. Industry officials stated that the visit is a component of a larger plan to reach new markets.

As retaliation for India's purchases of Russian oil, Trump doubled tariffs on Indian imports into the United States to 50%, bringing bilateral relations to their lowest point in decades. However, the two nations are currently attempting to reach a trade agreement.

"Russia has been an important business partner for India, and the engineering and tools sector presents significant potential for collaboration," stated the delegation's leader, S.C. Ralhan, president of the Federation of Indian Export Organizations (FIEO).

Source: Reuters