InvestorQ : Is it that India has expanded its trade with Russia in a big way in recent months?
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Is it that India has expanded its trade with Russia in a big way in recent months?

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Riya Dwivedi answered.
2 weeks ago
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In the last few months, the Indian economy has shown a lot of appetite for Indian oil and coal . For the month of April 2022, the total import bill from Russia stands at $2.3 billion. That is nearly 250% higher than the figure seen in the same month last year. This story is not just about crude but also about coking coal, wherein the government has been looking at Russia to supply cheaper coking coal amidst a global rally in commodities.

Apart from crude, (57% of imports from Russia), India also imported other commodities like coal, soybean, sunflower oil, fertilisers, and diamonds. Here is the proof. Between April and May 2022, Russia moved from being the fourth largest supplier of crude to India to becoming the second largest supplier of crude; just behind Iraq.

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