Russia’s import substitution policy promoted locally made products globally
Russia’s policy of import substitution has worked not only on the domestic market, but also made the country’s products popular abroad, Russian Foreign Minister Sergey Lavrov told a joint news conference with his Indian counterpart Subrahmanyam Jaishankar on Wednesday when asked about Moscow’s possible plans to promote products, such as cheese, honey and herbs.
“We do not need to intentionally promote our products in India as Indian partners know the Russian market very well,” he said.
“The policy of import substitution not only works in Russia, it has also been acknowledged internationally,” Lavrov added.
The Russian-Indian contacts in trade and economy through respective ministries, departments, as well as private and state-run companies, are developing dynamically, the minister noted.