From January to November 2023, the trade turnover between Russia and India reached $59.7 billion, marking a 1.9-fold increase compared to 2022. This information was derived from an analysis of data provided by the Indian Ministry of Commerce and Industry, as reported by RIA Novosti.
India’s exports to Russia surged by over 1.4 times, reaching $3.7 billion. The major export items included pharmaceuticals ($311 million), steel products ($209 million), corundum ($149 million), shrimp ($137 million), and ceramics ($108 million).
Simultaneously, the import of goods from Russia to India has been rapidly growing, increasing by 1.9 times and reaching $56 billion. Russia’s major exports to India comprise oil ($41 billion), oil products ($4.3 billion), coal ($3.8 billion), fertilizers ($2.2 billion), and diamonds ($1 billion).
Photo: Katehon