In five charts: How war fed Indo-Russia trade3 min read . Updated: 19 Mar 2023, 10:26 PM IST
One year into the Ukraine war, goods trade between Russia and India has touched new highs
One year into the Ukraine war, goods trade between Russia and India has touched new highs. The New Delhi-Moscow relations have withstood the West’s pressures, and bilateral trade has been the biggest benefactor as well as a catalyst in this transformation. However, a sharp surge in imports from sanctions-hit Moscow has made trade figures overwhelmingly one-sided. Historically, India’s imports from Russia have stayed under five times its exports to the country, with the ratio touching 4.1 in 2017-18, previously the highest under the Narendra Modi government. But in 2022-23 till January, imports have been 15 times the exports.
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