A significant delegation of Indian exporters is set to embark on a four-day visit to Moscow, commencing on Tuesday, as part of New Delhi’s strategy to diversify export markets in response to the impact of heightened US tariffs. The delegation, comprising over 20 exporters from the engineering sector, aims to strengthen trade ties with Russia, a key partner for India. This initiative comes ahead of an anticipated visit to India by Russian President Vladimir Putin next month. The engineering sector, which accounts for nearly 20% of India’s total merchandise exports, has been particularly affected by the US tariff hikes. President Donald Trump doubled tariffs on Indian imports to 50% as a punitive measure for India’s continued purchases of Russian oil, straining bilateral relations. Despite these challenges, both nations are now working towards a trade agreement. S C Ralhan, president of the Federation of Indian Export Organisations (FIEO), emphasized the growing potential for collaboration in the engineering and tools sector. ‘Russia has been a crucial business partner for India, and our engineering exports to Russia are expected to reach $1.75 billion this year,’ he stated. The visit aims to deepen commercial ties and promote Indian manufacturing in the Russian market. Recent data reveals a decline in India’s engineering exports to the US, its largest market, by 9.4% year-on-year to $1.40 billion in September. Conversely, India’s exports to Russia surged by 14.6% year-on-year to $4.9 billion in the fiscal year 2024/25, while imports, primarily crude oil and energy products, increased by 4.3% to $63.8 billion. Indian exporters have capitalized on supply gaps in Russia following the exit of Western firms post-Ukraine invasion. However, imports have recently slowed due to US sanctions on major Russian crude oil exporters. During the MITEX Tools Expo in Moscow from November 11-14, Indian firms will showcase their engineering goods, with the Indian Embassy and Commerce Ministry facilitating meetings with Russian buyers to foster trade and joint ventures.