India's imports from Russia jump times amid Russia-Ukraine conflict
New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.
In 2021-22, Russia was India’s 18th largest import partner, accounting for USD 9.86 billion in imports.
In the last 10 months, Russia’s position with India in terms of trade jumped to the fourth position as it became the largest import source during the current fiscal.
Before the Russia-Ukraine conflict, Russia accounted for less than 1 percent of India’s import basket.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Tripura aims to become national tourism hub; 4th 'Unity Promo Fest 2025' opens
Delhi air pollution worsenses, AQI deteriorates to 384; several NCR pockets in 'severe' category
US: National Guard member Sarah Beckstrom, who was shot by Afghan national Rahmanullah Lakanwal, dies, announces Trump
Horror in Hong Kong: Deadly fire disaster leaves 94 dead and a city in shock
