New record: Trade turnover between Russia and India exceeds 50 billion dollars

The trade turnover between Russia and India has doubled in ten months - up to a record $54.7 billion, BelTA reports citing a source.

Thus, from January to October, India increased imports of Russian goods twice - up to 51.4 billion dollars, and supplies of its own products to the Russian Federation in 1.4 times - up to 3.3 billion. Thus, the trade turnover reached 54.7 billion dollars, which is twice higher than the figure for the same period of 2022 and the maximum in history.

This rapid growth in trade allows the Russian Federation to remain India's fourth largest trading partner and second most important supplier.

The US remains the leader here, although trade between the two fell by 9% to $99.9 billion in January-October. China ranks second, with the UAE coming in third. The five largest trading partners of India are Saudi Arabia.