In the first half of the year, trade between Russia and India showed notable momentum, with the overall turnover climbing to 33.5 billion dollars. This surge reflects a broader tilt in bilateral commerce, where both nations are expanding their trade relationships across energy, minerals, and consumer goods. Data from Indian markets confirm a continued pattern of strong interest in Russian offerings, signaling a mutual push to diversify supply chains and deepen economic coordination between New Delhi and Moscow.
India’s imports from Russia reached a substantial 31.5 billion dollars in this period, a threefold increase that underscores the strategic importance of Russian energy and specialty commodities to Indian industry. The primary import categories are crude oil, chemical fertilizers, and diamonds, all of which play a crucial role in sustaining India’s economy and industrial activity. This growth aligns with ongoing energy security goals and the drive to secure reliable supply lines for essential inputs used in power generation and manufacturing.
On the other hand, India reported a rise in the export of its products to Russia, with values expanding by about 1.7 times to reach 1.9 billion dollars. Pharmaceuticals, seafood, and tobacco emerged as some of the leading export items, highlighting India’s strength in high value, consumer and health-related goods alongside agricultural products. This expansion also reflects expanding consumer access to Indian brands and a growing demand for diverse product categories within the Russian market.
Earlier statements from India’s Ministry of Commerce and Industry noted an uptick in local gin exports to Russia, even as vodka imports from Russia saw a substantial increase of 3.6 times. The first half of 2023 featured significant activity in distilled spirits, pointing to evolving tastes and a willingness among Russian businesses and consumers to explore a wider range of Indian alcoholic beverages.
Russia supplied a considerable volume of vodka to India in the first half of 2023, with 750,000 dal (branch) delivered during that period. In return, India sent to Russia 130 thousand deciliters of gin during the two months of May and June 2023, and there were no comparable gin shipments in 2022. This exchange illustrates shifting preferences in spirits trade and the growing presence of Indian gin on the Russian market battlefield, where brand diversity and price competitiveness are increasingly decisive factors.
Industry observers note that Radico Khaitan and other Indian gin producers, along with smaller boutique distillers, are entering the mass market in Russia. Alexander Stavtsev, who leads the WineRetail information center, commented on the trend, emphasizing how Indian gin and niche products are expanding their footprint alongside established Russian and international spirits brands. This diversification signals a broader integration of India’s beverage sector into the Russian retail and hospitality ecosystems, driven by consumer curiosity and growing cross-border demand.
In parallel with these trade movements, SIPRI reported a notable reduction in Russian defense exports by about one third, reflecting shifts in international security policies and the evolving export landscape for strategic goods. These dynamics collectively illustrate how geopolitical factors, sanctions landscapes, and market preferences converge to shape bilateral trade patterns between India and Russia during the period in focus.