New Delhi, April 26 (KNN) The Confederation of All India Traders (CAIT) has said that small manufacturers and traders of India have vast export opportunities in Russia owing to the ongoing war with its neighboring country Ukraine and the sanction imposed by the West countries.

“A vast space for Indian products has been created to make their impressive entry in the Russian market and replace the void created by stoppage of supplies from UK, USA and European Union Countries,” said CAIT.

Before the war, the USA, European Union, UK and other Western Countries were exporting their goods in large quantities to Russia.

The Delhi based trader’s body has said that Russian trading houses are now preferring India as a destination for sourcing various verticals of goods.

This has brought a big opportunity for Indian small manufacturers and traders to export, said CAIT who has been approached by several Russian Trading Houses for assisting in locating the suppliers.

CAIT National President B.C.Bhartia and Secretary General Praveen Khandelwal said that CAIT through its State Chapters has identified various small manufacturers, distributors and traders who are capable of meeting the Russian requirements as per the first list received by CAIT from Russia.

"The response is enthusiastic and encouraging and manufacturing units and traders are more willing to supply the goods to Russia. The details of the requirements, its logistics, payments and other issues are being discussed and it is hoped that very soon the structure will be worked out,” it added. (KNN Bureau)