Russia delivered a record $41.6 billion worth of goods to India during the incomplete 2022-2023 fiscal year, becoming India's fifth largest trading partner, according to the Indian Ministry of Commerce and Industry.
Thus, Russian products imported to India from April 2022 to March 2023, 4.2 times exceeded the previous record registered as a result of the 2021-2022 fiscal year, the data showed.
Meanwhile, India's exports to Russia stood at $2.8 billion, which caused a trade deficit of $38.7 billion between the two countries, according to the data. India has a larger deficit, of $77.1 billion, only with China, RIA Novosti reported.
In addition to Russia, India's major trading partners in the incomplete 2022-2023 financial year also included the United States, with the trade amounting to $118.2 billion, China ($104.3 billion), the United Arab Emirates ($77.6 billion) and Saudi Arabia ($48.3 billion), the data data.
In the 2021-2022 financial year, Russia ranked 25th among India's largest trading partners, according to the Indian Ministry of Commerce and Industry.
