OREANDA-NEWS India and Russia are aiming to diversify bilateral trade, Russian Ambassador to India Denis Alipov said at a conference of the Valdai Club and the Vivekananda Foundation.

"At the moment, the main goal is to explore ways to use the momentum gained within the solid framework of new mechanisms to support emerging opportunities for cooperation and achieve a new level of our bilateral ties. We are aimed at diversifying bilateral trade and correcting its huge imbalances, creating favorable conditions in the field of mutual settlements, payment systems, insurance, logistics and stimulating further business ties, inviting Indian private companies to explore the capacious Russian market and use its untapped potential," he said, noting that the volume of trade between Russia and India in Last year, it "reached an unprecedented $54 billion, which put Russia among India's four largest trading partners."

Alipov added that "new incentives are expected for the introduction of the international North-South transport corridor, the Vladivostok-Chennai sea route and a very interesting section of the Northern Sea Route for India."
"Despite the difficult circumstances, Russian-Indian relations remain multifaceted and strong. And there is no doubt that they will continue to grow based on unequivocal mutual interest and trust, contributing to our common vision of a more just international order," the Ambassador said.