About Us Trade and Economic Relations

Trade and economic cooperation between India and Belarus steadily progressed since Belarus’ independence in 1991. In 2022, bilateral trade stood at US$ 223.77 million, The trade balance remains in favour of Belarus. Belarus is an important source of Potash fertilizers for India. The bilateral trade figures (in US$ million) for the last four years are as under:

In US$ million


Belarusian Exports

Belarusian Imports


















[Department of Commerce of India, National Statistics Committee of Belarus, State Customs Committee of Belarus]


There is keen interest on both sides in further strengthening and diversifying economic and commercial interaction considering the potential that exists in two countries. The necessary mechanism including India-Belarus Inter-Governmental Commission for Economic, Trade, Industrial, Scientific, Technological and Cultural Cooperation (IGC) is in place. The 11th session of IGC meeting was held in New Delhi on 10 November 2022. The Indian Government announced a US$ 100 million line of credit to Belarus during the state visit of President of India to Belarus in June 2015. The Government of India granted Market Economy Status to Belarus in 2015.


Both countries have exchanged business delegations and participated in each other’s business events from time to time.  About 19 Indian companies took part in the exhibition Healthcare of Belarus – 2023 held in May 2023 in Minsk. An ASSOCHAM delegation visited Minsk in November 2021 and held B2B interactions with Belarusian counterparts. A CII Business delegation visited Belarus under program “Exploring New Markets for Business & Investment” on 4-5 June 2018.  Another CII delegation visited Minsk to attend the Belarusian investment forum held from 17-20 September, 2019. A CAPEXIL delegation visited Belarus to participate in Buyer-Seller Meet (BSM) held from 25-28 September 2019.  

In March 2023, the Deputy Industry Minister of Belarus led a delegation of Belarusian businesses, organised by the National Center for Marketing and Price Control of the Ministry of Foreign Affairs. The delegation participated in the India-Belarus Business Forum organised by CII and held meetings with representatives from government, as well as businesses in India.

During January 2022, 25 companies from Belarus took part in the Indus Food Exhibition. 9 companies from Belarus participated in the Indus Tech Exhibition.

The potential for increased cooperation is considerable which needs to be explored, identified and exploited. Belarus offers a promising market for India’s pharmaceutical and chemical products, automobile and knowledge-based enterprises. Investments and joint ventures, particularly in view of the Belarusian industrial and technological strength in manufacturing giant tyres, agro-industrial machinery, mining equipment, and heavy-duty road construction machinery and also the disinvestment process in Belarus, provide possibilities for increasing cooperation. Belarus desires to develop its own pharmaceutical production units aimed at import substitution. Belarus offers opportunities for participation by Indian companies in projects in power generation and power transmission sectors.

Pharmaceutical is an important area of cooperation between India and Belarus. 2016 witnessed the establishment in Belarus of three joint ventures in the pharmaceuticals sector between Indian and Belarusian companies involving around US$ 3 million investment by Indian companies. Under these joint ventures, the Indian companies will provide substance, technology and investment to their Belarusian counterparts.

A large delegation of 19 Indian companies participated in the international medical forum “Healthcare of Belarus” in May 2022.In May 2017, a large ASSOCHAM led delegation participated in Belarus Medica 2017 in Minsk. Another ASSOCHAM led business delegation participated in BELAGRO, an International Agri Business Expo, held in June, 2018. A CII delegation visited Belarus in June, 2018 and was taken to see the Orsha Cluster.

IT, healthcare, financial services, transport and logistics are other potential areas of cooperation. As for the energy sector, India has participated in the reconstruction of Grodno power plant in Belarus. BHEL supplied and installed equipment and machinery for Grodno Power Project II.

India’s exports to Belarus include medicaments, drying machines, fish meat, crustaceans, heat exchange units, cereals, yarn, nucleic acids and their salts, other heterocyclic compounds, machinery for working rubber or plastics.

 India’s imports from Belarus: Fertilizers, potassium chloride, textile fabrics, fibers synthetic filament tow, acrylic or modacrylic, glass fibers, rubber, vehicle parts; brakes, servo-brakes and parts thereof, hydrazine and hydroxylamine and their inorganic salts, vinyl chloride polymers.

 June 2023