Business News | Russia Eyes Deeper Textile Partnership with India, Targets Joint Wool, Fabric Projects
Get latest articles and stories on Business at LatestLY. Russia is looking to deepen its textile partnership with India as both countries seek to diversify bilateral trade beyond traditional sectors, with Russian officials announcing plans to launch joint wool and fabric projects with Indian partners and expand cooperation through Bharat Tex and upcoming industry engagements.
New Delhi [India], July 14 (ANI): Russia is looking to deepen its textile partnership with India as both countries seek to diversify bilateral trade beyond traditional sectors, with Russian officials announcing plans to launch joint wool and fabric projects with Indian partners and expand cooperation through Bharat Tex and upcoming industry engagements.
Speaking to the media on the sidelines of Bharat Tex 2026, Zlata Antusheva, Lead of GR and Finance Sector at the Ministry of Trade Representation of Russia, said the exhibition provides an important platform to strengthen cooperation in the textile and light industry sectors.
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"Our turnover between the two countries is approximately USD 70 billion. And we are coming to the very, very big goal for us that was announced by two of our leaders to come to USD 100 billion trade turnover," she said.
Antusheva said achieving the target would require diversifying the trade basket beyond natural resources into sectors such as textiles, metallurgy, agriculture, chemicals and pharmaceuticals.
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She said the Russian delegation, led by representatives from the Kalmykia region, is holding discussions with Indian states including Punjab, Jammu and Kashmir, Uttar Pradesh and Gujarat, besides visiting production facilities to explore business opportunities.
Highlighting a key initiative, Antusheva said Russia and India's Bansal company are working on a joint textile project that will use premium-quality wool from Russia's Kalmykia region to manufacture fabrics in India.
"We are already working on the realisation of our first joint project in the textile sector... this wool will be used in the joint production of fabric that will be done here in India," she said.
According to Antusheva, the partnership will manufacture fabrics for uniforms and general use, besides developing a premium line of cashmere clothing. The project is expected to be formally presented during Innoprom, scheduled to be held at Bharat Mandapam in New Delhi from September 9 to 11, with support from the Ministry of Commerce and Industry of India and Russia's Ministry of Industry and Trade.
Separately, Sanal Kodzhaev, Deputy Chairman of the Government of Kalmykia, said the Russian region, which is known for sheep farming and wool production, sees Bharat Tex 2026 as the starting point for long-term textile cooperation with India.
"We are interested in selling wool to our Indian partners to start our Kalmykian-Indian and Russian-Indian cooperation," Kodzhaev said, adding that the initiative could contribute to strengthening economic ties between the two countries. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)