India Ranked Among Russias Leading Foreign Trade Partners, Says PM Mishustin

In the financial year 2024-2025, trade between India and Russia reached a historic peak, totaling approximately $68.7 billion. This figure represents a significant increase from around $13 billion in 2021, indicating a nearly five- to six-fold growth over a span of four years.

This surge in trade can be attributed to various factors, including strengthened diplomatic relations and increased cooperation in sectors such as defense, energy, and technology. Notably, India has increased its imports of Russian crude oil amidst global market fluctuations, while Russia has expanded its exports of defense equipment and machinery to India.

The growing economic partnership aligns with both countries broader strategic objectives, aiming to enhance bilateral ties and diversify their trade portfolios. As economic landscapes evolve, both nations seek to capitalize on mutual benefits, bolstering their positions in the global market.