News & Events in Belarus

Lukashenko sees potential for boosting trade with India

MINSK, 4 November (BelTA) - There is a potential for boosting Belarus-India trade, Belarusian President Aleksandr Lukashenko said at a meeting with Ambassador Extraordinary and Plenipotentiary of India to Belarus Ashok Kumar in Minsk on 4 November, BelTA has learned.

“Cooperation between Belarus and India is highly relevant now and is under special control. We are far from having exhausted our potential, and haven’t even come close to tapping into the opportunities we have today. Although we have doubled our trade, reaching half a billion dollars, this is miniscule for our relations. The target we are aiming for, namely $2-3 billion in annual trade, is quite realistic and achievable. Therefore, it is important we step up our cooperation,” the head of state said.

“Our minister of foreign affairs will report on the measures we are taking in this area. However, we also hope for an active engagement from the Indian side in our joint efforts to ramp up trade. I know you can do this. With our considerable experience and shared history dating back to the Soviet times, we are keen to boost our trade and economic ties,” Aleksandr Lukashenko said.

Regarding political and diplomatic relations, the head of state noted that they are at a sufficiently high level. However, he is confident that trade and economic relations could give them a serious boost and an impetus.

Belarus also aims to establish humanitarian cooperation with India. “We started with cinema. This is natural because it is highly developed in your country. Your films are featured at the Listapad festival. We thank you for taking part in it,” Aleksandr Lukashenko said.

The president also expressed gratitude to the Indian side for its high-level participation in the recent Minsk International Conference on Eurasian Security: “We noticed this and highly appreciate it.”

“Mr Ambassador, there are many promising areas we can build upon to boost our trade and economic cooperation. And the economy serves as the foundation for enhancing our interaction in other areas,” the Belarusian leader said.

Belarus and India have seen positive dynamics in their trade and economic cooperation in recent years, with bilateral trade totaling nearly $500 million in 2024, up by 14% year-on-year. Belarus had a deficit, with imports from India outpacing exports by more than $64 million.

In January-September 2025, merchandise trade exceeded $605 million, which was up by almost 74% year-on-year. At the same time, Belarusian exports grew 2.7 times to $415 million, resulting in a trade surplus for Belarus.

Trade in services is also increasing.Last year, it saw a 2.6-fold increase compared to 2023, amounting to about $125 million. In January-September 2025, it went up by another 12% year-on-year, reaching nearly $90 million.

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