Russian-Indian trade cooperation: regional aspect
Abstract. The relevance of the study is due to the increasing role of India as a strategic partner of Russia in the world market in the conditions of Western sanctions. The problem is to increase the level of involvement of Russian regions in the development of foreign economic relations with India. The purpose of the study is to assess the current state of the Russian-Indian trade and economic cooperation and identify directions of its development in the regional aspect. To analyze foreign economic relations, it is proposed to develop a methodological approach to calculating the similarity index, which made it possible to assess the sectoral export specialization of the region in relation to the country. This approach is based on comparing the share of exports of products to the country with the sectoral export specialization of the region as a whole. The article presents the results of the analysis of the dynamics and structure of exports, identifies regions most actively engaged in the trade and economic activity with India. In recent years, the main export items are no longer limited to raw materials, but include machinery and equipment, chemical industry products. Exports and imports are highly concentrated in the regions of Russia. Moscow and St. Petersburg are the largest hubs of the Russian-Indian trade. The peripheral regions of Russia trade in a limited way, mainly products of regional specialization. The article emphasizes the need to reassess the transport and logistics potential of the regions through which the international transport corridor "North-South" will pass, which will connect St. Petersburg and Mumbai.
Keywords: sanctions, foreign trade, economic competitiveness, export, import, India, Russia, region, trade and economic cooperation
Highlights:
♦ due to the imposition of sanctions, India`s role as a key strategic partner is only getting stronger;
♦ the most active participants in trade and economic relations with India are Moscow, St. Petersburg, Yakutia, Nizhny Novgorod region;
♦ 70% of exports and 86% of imports are concentrated in only nine Russian regions;
♦ India, in addition to mineral products, precious metals and stones, fertilizers, is an active consumer of Russian products in the group of goods "Machinery and Equipment".
Galina A. Khmeleva, Pavel S. Rusakov, Dmitry A. Voronin - Samara State University of Economics, Samara, Russia