Russia is among India’s top three trading partners for the first time. writer According to calculations according to Delhi Ministry of Industry and Trade, RIA Novosti. It is followed from them that the bilateral trade volume increased by 3.8 times in the January-May 2023 period, reaching a record level of 27.1 billion dollars.
India bought 26.5 billion dollars worth of Russian goods, which increased 3.9 times in the period under review. Russia increased its purchases by 2.6 times to $ 639 million.
China remains India’s largest trading partner. Trade between Delhi and Beijing totaled $41.1 billion, down 9.3% from the previous year. The second place was taken by the USA, whose trade turnover with India decreased by 12.5 percent compared to the previous year and reached 30.4 billion dollars. The United Arab Emirates came in fourth, and its trade with India fell 11% in the first five months to $24.2 billion, while Saudi Arabia came in fifth. During the period under review, the trade volume with Delhi amounted to 18.3 billion dollars and decreased by 11% compared to the previous year.
India, China, Turkey and Azerbaijan succeeded in taking the place of the European Union in Russia’s foreign trade, knowledgeable Ruslan Davydov, Deputy Head of the Federal Customs Service, in an interview with RIA Novosti. According to him, Moscow’s trade with these countries is actively increasing. According to Davydov, the share of European Union countries in Russia’s trade structure decreased from 38 percent to 17.6 percent in two years.
Previously reportedEurope continued to trade in rubles with Russia.