Political Affairs
Get all the latest news from Bharat and beyond, with a focus on top national events and trending stories.

Russia Becomes India's 3rd Largest Trading Partner for First Time in History

© AP Photo / Manish SwarupIndian Prime Minister Narendra Modi, right, hugs Russian President Vladimir Putin before their meeting in New Delhi, India, Friday, Oct. 5, 2018.
Indian Prime Minister Narendra Modi, right, hugs Russian President Vladimir Putin before their meeting in New Delhi, India, Friday, Oct. 5, 2018. - Sputnik India, 1920, 16.07.2023
Subscribe
MOSCOW (Sputnik) - Russia, for the first time in history, became India's third largest trading partner, with the trade between the countries reaching $27.1 billion in the first five months of 2023, Sputnik has calculated using the data of the Indian Commerce Ministry.
The volume of bilateral trade grew 3.8 times in January-May to a record $27.1 billion, the ministry's data showed.
Over this period, India increased its imports of Russian goods by 3.9 times up to $26.5 billion, which allowed Russia to stay the country's second largest importer. At the same time, the export of Indian products to Russia grew by 2.6 times to $639 million.
India's Prime Minister Narendra Modi, left, shakes hands with Russia's President Vladimir Putin (File) - Sputnik India, 1920, 22.06.2023
Indo-Russian Relations
India-Russia Trade Made Western Sanctions Irrelevant: Economists
China remained India's largest trading partner with turnover of $41.1 billion, which decreased, however, by 9.3% year-on-year. Trade between India and the United States, New Delhi's second largest trading partner, dropped by 12.5% in annual terms to $30.4 billion
The United Arab Emirates-India trade decreased by 11% to $24.2 billion between January and May, and, as a result, the UAE dropped to the fourth position. Saudi Arabia came in fifth with a turnover of $18.3 billion, down 9.1% year-on-year.
Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала