Trade turnover between Russia and India jumped sharply in 2023, reaching a record $65 billion, according to data from India's statistics service.
India's imports of Russian products increased 1.8 times to $60.1 bln at the end of last year, making Russia the second largest supplier of goods to India.
Meanwhile, exports of Indian goods increased 1.4 times to $4 bln. This made Russia India's fourth largest trading partner, as trade between the two countries increased from $37 bln a year earlier to $65 bln in 2023.
The United States remains India's primary trading partner, despite a 9% decline in trade volume to $119 bln.
China ranks as India's second-largest trading partner ($116 bln, a decline of 2%), while the UAE holds the position of the third-largest trading partner ($78 bln, a decline of 7%).
Saudi Arabia stands as India's fifth-largest trade partner ($44 bln, a decline of 17%).
