OREANDA-NEWS In January of this year, the volume of trade between Russia and India reached record levels since August 2023, exceeding $6 billion, an increase of 15% year-on-year.

According to RIA Novosti, Russia has become the second largest supplier of goods to the Indian market with a supply value of $5.7 billion. In turn, India increased its exports to Russia by 14%, reaching $321 million.

As a result, the total trade turnover between the two countries increased by 15%, breaking the $6 billion mark. This is the third time that mutual trade between Russia and India has reached such a volume. Previously, similar figures were recorded in May and August 2023.

Despite the successful cooperation with Russia, China remains India's main trading partner in January. The volume of trade turnover between these countries also showed growth and amounted to $10.5 billion, which is 16% more than last year.

At the same time, the volume of trade transactions with the United States decreased by 17%, amounting to $8.4 billion, and trade with the UAE fell by 27%, to $7.8 billion.

India's largest partners also include Singapore, Saudi Arabia, Iraq, Indonesia, South Korea and Hong Kong.