Trade between Russia and India reached an all-time high of $17.5 billion in the first quarter, according to Sputnik's calculations based on data from the Indian Ministry of Industry and Commerce.
This represents an increase of 5% year-on-year and exceeds the previous peak of $17 billion in the second quarter of last year.
Indo-Russian trade hits record $17,5 bln in 1st quarter of 224
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During this period, China emerged as India's most important trading partner, with bilateral trade growing by 9.6% to $29.5 billion. Conversely, India's trade with the United States declined by 3.8% to $29.4 billion.
The United Arab Emirates maintained its third position with a notable 25% increase to $26.1 billion. Saudi Arabia rounded off the top five, with its trade with India falling by 8.3% to $12.2 billion.
Russia retained its status as India's second-largest supplier of goods in the first quarter, exporting $16.3 billion worth of goods compared to $15.6 billion a year earlier.
Meanwhile, India's exports to Russia rose by 22% to $1.2 billion in January-March, making Russia the 28th largest recipient of Indian goods.
Notably, the top five destinations for Indian goods are the United States ($20.8 billion), the United Arab Emirates ($10.9 billion), the Netherlands ($6.8 billion), Singapore ($5.5 billion) and China ($4.7 billion).