India will expand its export basket to Russia by the end of the current fiscal year, and the range of Indian goods for Russia will become more diverse, Subhash Chander Ralhan, President of the Federation of Indian Export Organizations (FIEO, established by the Ministry of Commerce and Industry of India), told TASS. "India’s export basket to Russia is expected to become significantly more diversified by the end of FY 2026-27. While engineering goods, machinery, electronics, pharmaceuticals and chemicals will remain the mainstay of exports, we are witnessing strong demand across a much broader range of value-added products," he said. "At the same time, services such as information technology, healthcare, education and engineering consultancy are also gaining traction, reflecting the broadening scope of India-Russia economic cooperation," Ralhan said. The FIEO President also highlighted the important role of the special rupee vostro account mechanism, which allows for settlements in national currencies.