With exodus of European, American and Japanese companies from the Russian markets, Indian companies seem to be looking to fill in the void.
The Indian companies are reportedly mulling to further the investments in Russian markets as major western companies withdrew investment from Russia after Moscow invaded Ukraine.
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Since imposition of economic sanctions by Western nations, including America, Russia has been looking for new partners to fill the void.
According to reports, a number of big Indian companies are mulling to invest in medical drugs to consumer good items.
Indian retailers are also in talks to open stores in Russia, President Vladimir Putin told a BRICS business forum last week.
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Meanwhile, India seems to be trying to maximize its geopolitical leverage without limiting its economic opportunities.
While the United States look to intensify global pressure against Russia, it also can’t risk alienating allies like India.
India has, from the very beginning of the invasion of Ukraine by Russia in April this year, has remained neutral and refrained from condemning Moscow.