In January, Russia remained the second largest supplier of goods to India, with shipments valued at $5.7 billion, up 15% from the previous year. At the same time, India increased its exports to Russia by 14% to $321 million.
China became India's top trading partner in January, with trade between the two countries growing by 16% to $10.5 billion. Trade with the United States decreased by 17% to $8.4 billion, and with the UAE by 27% to $7.8 billion. Russia ranked fourth. Singapore rounded out the top five, with trade with India jumping by 38% to $3.6 billion.
The top 10 largest partners of the country also include Saudi Arabia ($3.4 billion), Iraq ($2.9 billion), Indonesia ($2.5 billion), South Korea, and Hong Kong (each $2.1 billion).