India-Russia trade could touch $100-125 billion over next three years, says Russian industrialist

Oleg Deripaska, top Russian industrialist and founder of Rusal (among world’s biggest aluminum firms) has told ET that he expected that India-Russia trade that has leaped in the last 1.5 years will reach 100-125 bn usd over the next three years.

Deripaska said he hoped trade imbalance will also be addressed and India will be among top three trade partners for Russia in the coming years. “We are currently studying the Indian market which is among top priorities for Russia. India-Russia trade was $ 10 bn and it has leaped in the last one and a half years,” Deripaska informed.

Deripaska who attended the B20 summit noted that Indian leadership led by PM Narendra Modi is steering the economy towards the right path. “India has thousands of years of history and culture and efforts are being made to have a glorious future. India is a friendly nation.”


Russian economy including the private sector has shown remarkable resilience despite disruption and attempt to cancel Russia, Deripaska said adding that the country was reorienting its economy towards Asia including India, SE Asia, Africa and Latin America. “We are studying all markets including Saudi Arabia. The economies of India, West Asia and Eurasia have great futures.” ?

Pointing out that a major disruption has occurred globally, the industrialist said that India-Russia economic partnership is making adjustments and adopting newer systems of doing businesses. “For the past several decades, the Russian economy was primarily oriented towards the European market. It is now making adjustments. A lot of focus is on the domestic market currently but several other markets are being studied.”

Deripaska, also a philanthropist and activist is the founder of RUSAL – one of the world’s largest aluminium producers, GAZ Group – a leading Russian car manufacturer, and Volnoe Delo Foundation – one of the largest Russian non-profits involved in charity, social projects and volunteering.