Russia’s trade with India continues to grow rapidly
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The trade turnover between Russia and India grew in the first half of 2023 by almost 2.9 times to $33.5 billion compared to the same period in 2022 ($11.5 billion). It approached the volume of trade for the entire last year ($35 billion). This follows from the data published on August 28 by the Ministry of Commerce of India.
Almost all of the growth in trade was due to an increase in exports from Russia to India. In the first half of the year, the import of Russian goods to India tripled to $31.5 billion, of which oil and oil products accounted for $25.2 billion. The import of Indian goods to Russia also increased by 1.7 times, but to a level of only $1. 9 billion. The main item of Indian exports was drugs, the purchases of which in the six months of 2023 amounted to $184 million. Europe continued to grow. It increased almost identically to the increase in trade by more than 3 times, amounting to over $29 billion.
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