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Russia Enters India's Top 5 Trading Partners for First Time: Indian Commerce Ministry

© Sputnik / Vitaly Ankov / Go to the mediabankRussian and Indian flags
Russian and Indian flags - Sputnik India, 1920, 11.03.2023
MOSCOW (Sputnik) - Russia has for the first time entered the top five of India's largest trading partners, with trade between the countries for the incomplete 2022-2023 financial year reaching almost $40 billion, according to data from the Indian Commerce Ministry, seen by Sputnik on Saturday.
According to the results of the 10 months of the current fiscal year, which began in April 2022 and will end in March, trade between Russia and India reached a record $39.8 billion, data showed.
As of today, Russia ranks fifth on the list of India's main trading partners, which is the first time since the late 1990s, when India began to keep such statistics.
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In the 2021-2022 financial year, Russia ranked 25th in India's largest trading partners, according to data.
India's top trading partners in the current fiscal year have also been the United States with a trade turnover of $108.4 billion, China ($95.9 billion), the United Arab Emirates ($70.2 billion) and Saudi Arabia ($44.3 billion).