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India’s Trade With Russia Grew 45%, Imports By 58% Between 2020-21 And 2021-22

India’s commerce worth with Russia and Ukraine has gone up since 2020-21

Though the Commerce Ministry has stated that the affect of Russia-Ukraine conflict on India’s commerce with each the warring nations will be assessed solely after the scenario stabilises, it’s fascinating to know between 2020-21 and April-February interval of 2021-22, India’s worth of commerce with Russia grew 45.79 per cent.

Similarly India’s worth of commerce with Ukraine between the identical interval, went up by 19.34 per cent.

According to Commerce Ministry figures, India’s complete commerce with Russia stood at $8.141 billion in 2020-21. During April-February interval of 2021-22, the commerce worth went up by 45.79 per cent to $11.869 billion.

Similarly, India’s commerce with Ukraine in worth phrases, stood at $2.590 billion throughout 2020-21. In the April-February interval of 2021-22, this went up by 19.34 per cent to $3.091 billion.

More considerably India’s imports from Russia rose to $8.69 billion within the first 11 months of 2021-22, 58 per cent greater than the whole imports of $5.48 billion recorded in 2020-21.

India’s exports to Russia rose to $3.18 billion in April–February interval of 2021-22 from $2.65 billion recorded within the full yr 2020-21.

The Russia-Ukraine conflict has continued for greater than 100 days and severely impacted India’s commerce ties with each the nations.

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