Russia
India's imports from Russia jump 5 times amid Russia-Ukraine conflict
New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.
In 2021-22, Russia was India’s 18th largest import partner, accounting for USD 9.86 billion in imports.
In the last 10 months, Russia’s position with India in terms of trade jumped to the fourth position as it became the largest import source during the current fiscal.
Before the Russia-Ukraine conflict, Russia accounted for less than 1 percent of India’s import basket.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
