Trade between Russia and India could bring in an additional $90 billion a year

Trade between India and Russia could generate additional revenue of $90 billion per year for both countries by 2030. Such calculations are provided by the authors of the study “Yakov and Partners” (formerly McKinsey in Russia), which Vedomosti reviewed.

The growth will come primarily from increased exports of Russian crude oil, petroleum products, coal and fertilizers previously sent to Europe. It is noted that last year, when Russia’s economic ties with partners in the West were severed, Russian trade flows were directed to other regions. This significantly affected the volume of Russian-Indian trade, which in 2022 more than tripled compared to the previous year, reaching a record $39 billion. For comparison: in 2021, this figure was only $12 billion.