The trade turnover between Russia and India for the incomplete fiscal year 2022-2023 reached $39.8 billion, a record figure that allowed Russia to enter the top five of India’s largest trading partners. The data of the Ministry of Trade and Industry of India was analyzed by the RIA Novosti agency.
In ten months, goods worth $2.5 billion were imported into Russia from India, and goods worth $37.3 billion from Russia to India. partners of India, and the best indicator was achieved in the 1997-1998 financial year – then Russia took 16th position.
India’s other largest trading partners over the past ten months are the US ($108.4 billion), China ($95.9 billion), the UAE ($70.2 billion) and Saudi Arabia ($44.3 billion).
In 2022, India has displaced Europe as the main buyer of Russian oil shipped by sea, according to the International Energy Agency. Compared to the period before February 24, India increased its imports of Russian oil by 16 times. Almost a third of India’s oil imports come from Russia.
