Russia Becomes 4th Largest Import Source For India In FY23

With a 369.4% increase (year-over-year) to $46.33 billion and a share of India's imports that increased to 6.5 percent from 1.6 percent in the previous fiscal, Russia has climbed 16 places to take the fourth spot as the country's fourth-largest importer. China continued to be India's main source of imports even if its share of the country's exports fell from 15.43 percent in the previous fiscal year to 13.79 percent in FY2022-23. According to statistics, India's imports from China increased 4.16 percent to $98.51 billion.