India Looks To Diversify Trade With Russia, Seeks Coking Coal Imports - Foreign Secretary

MOSCOW (UrduPoint News / Sputnik - 18th February, 2021) India is looking to open up new areas of trade in goods and services with Russia, including in coking coal, which is needed for steelmaking, Indian Foreign Secretary Vardhan Shringla said on Wednesday.

"Russia's Far East is a high-potential area where we can develop new sectors ... Our companies are looking to invest in new areas such as coking coal, timber, LNG. There is a huge potential there."

Vardhan Shringla said India wanted to reach long-term deals with Russia on a steady supply of coking coal to Indian steel plants.

He said an India Energy Center will be opened in Moscow in March in a bid to bolster energy cooperation.

"As we diversify our trade basket we are looking at areas that are new - we are looking at cooperation in railways, transport and logistics, civilian shipbuilding, repairing Indian waterways, pharmaceuticals and healthcare, minerals, petrochemical - there are huge numbers of areas that we can open up," he said.

The minister arrives in Moscow on Wednesday for a two-day visit. This is his first foreign trip this year. He spoke to the press at the Diplomatic academy of the Russian Foreign Ministry.