Chemical and Agro-industrial Products Prevail in Imports from India
Chemical products comprised the largest share of imports from India to Russia last year – 30.64% of the total volume, according to an article in Kommersant, citing the data of the Russian Federal Customs Service.
Agricultural goods and food take second place, with 25.26%. Other massively imported goods from India include cars, equipment, and means of transport (21.5%), textiles and footwear (11.19%), metals and metal goods (almost 6%). It was reported previously that China remains the major exporter of furniture to Russia.
The total volume of imports from India to Russia has grown in the past four years. It has increased from $2.2 to 3.2 billion since 2015 to 2018. During the same period, our export to India has grown from $5.6 to $7.7 billion (India has a high demand for Russian expertise in geology, among other things).
At the recent Eastern Economic Forum held in Vladivostok, the leaders of our countries, Vladimir Putin and Narendra Modi, made a joint announcement that, under the plans of the participants, mutual trade between Russia and India should reach $30 billion by 2025.