Over ten months, trade turnover between India and Russia reached $54.7 billion for the first time. This is reported by RIA Novosti with reference to calculations by the Indian Customs Service.
From January to October 2023, India doubled its imports from Russia to 51.4 billion. At the same time, Delhi increased exports of its own goods to the Russian Federation by 1.4 times, to 3.3 billion.
Based on the above, the trade turnover between Russia and India increased to $54.7 billion. This is double the figure for the same period in 2022 and the highest point in the history of India-Russia relations.
Recall that according to the data of the General Customs Administration of the People’s Republic of China, for the first three quarters of 2023, trade turnover between Russia and China increased by 29.5% to a record $176.5 billion. During the reporting period, China imported $81.4 billion worth of goods into Russia, showing an increase of 56.9%. Supplies from Russia to China over the same period totalled about $94.9bn, showing an increase of 12.7%. Thus, the trade balance remains in Russia’s favour.