dyes according to the document reviewed by reuters russian metals producers like nickel and palladium giant nornickel have said western sanctions and selfsanctioning by some suppliers have made it difficult for industrial companies to obtain imported equipment spare parts materials and technologies in 2022 posing a challenge to their development programmes the list includes nearly 200 metallurgy items russia has been indias largest supplier of military equipment for decades and it is the fourthbiggest market for indian pharmaceutical products but with purchases of russian oil soaring and coal and fertiliser shipments also strong india is looking for ways to rebalance trade the first indian government source said indias growing trade with russiaindian imports from russia have grown nearly five times to 29 billion between feb 24 and nov 20 compared with 6 billion in the same period a year ago exports meanwhile have fallen to 19 billion from 24 billion the source said india is hoping to boost its exports to nearly 10 billion over coming months with russias list of requests according to the government source but some indian companies are reluctant to export to russia over fears of being sanctioned by the west the lack of clarity over payments and challenges to securing insurance there is a hesitancy among exporters particularly on sanctioned items said ajay sahai director general of the federation of indian export organisations fieo a body supported by indias commerce ministry sahai who is aware of russias request said even small and mediumsized exporters who could meet some of the requests and had previously exported to iran after western sanctions were not enthusiastic large indian lenders are also reluctant to process direct rupee trade transactions with russia months after the mechanism was put in place for fear of being sanctioned reuters published on nov 30 2022 at 1031 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app auto parts exports india russia trade pistons india auto exports auto components export to moscow russia india auto export homenewsauto componentscars aircraft and trains sanctionshit russia asks india to send parts for 500 products