Thus, Russian products imported to India from April 2022 to March 2023, 4.2 times exceeded the previous record registered as a result of the 2021-2022 fiscal year, the data showed.
Meanwhile, India's exports to Russia stood at $2.8 billion, which caused a trade deficit of $38.7 billion between the two countries, according to the data. India has a larger deficit, of $77.1 billion, only with China.
In addition to Russia, India's major trading partners in the incomplete 2022-2023 financial year also included the United States, with the trade amounting to $118.2 billion, China ($104.3 billion), the United Arab Emirates ($77.6 billion) and Saudi Arabia ($48.3 billion), the data data.
In the 2021-2022 financial year, Russia ranked 25th among India's largest trading partners, according to the Indian Ministry of Commerce and Industry.