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Russia - India's trade
November 4 , 2022
753 days
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- Russia is now India's seventh-largest trading partner-up from its 25th position last year.
- India’s bilateral trade with Russia between April and August 2022 skyrocketed to a record high $18.2 billion.
- India’s imports from Russia have typically included petroleum oil and other fuel items, and fertilizers, mixed in with consumables such as coffee and tea, spices, and animal and vegetable fats.
- But in 2022 so far, fertilizers and fuel alone accounted for over 91% of bilateral trade.
- In September, Russia became India’s second-largest crude oil supplier.
- India depends on imports to meet 85% of its petroleum needs.
- India is also the world's third biggest oil importer and consumer.
- Imports from Russia have surged over 500% year-on-year during the months of June, July, and August.
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