In early summer, Indian companies exported $475 million worth of goods to Russia, up from $328 million a year earlier. This represents a new high for shipments from this country. The previous high was seen in March this year, reaching $441 million.
Additionally, Russian business sales in India also grew by 18% this year to $6 billion, while the monthly figure was higher only twice in May 2023 and May 2024. As a result, mutual trade between the two countries grew by 20% to $6.4 billion. This was the second-highest high in modern history after the record of $7.5 billion in late spring.
Also, supplies from Russia to India in the first half of this year rose by 13% to $35.8 billion. Only China supplied more, with goods worth $50.4 billion exported to India. Indian exports of goods have risen by a quarter since the beginning of the year to $2.5 billion.
Trade between Russia and India grew 14% to $38.3 billion in January-June, or 58% of last year's trade.