New Delhi: India’s imports from Russia increased nearly five-fold to $41.56 billion during the April-February period of the current fiscal due to increased crude oil arrivals from that country, according to commerce ministry data.
In 2021-22, Russia was India’s 18th largest import partner with imports worth $9.86 billion.
From only 0.2 per cent of all the oil imported by India, Russia supplied 28 per cent of the total oil imported in January.
Russia has become India’s fourth largest import source in the first 11 months of the current financial year.
From a market share of less than 1 percent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to 1.27 million barrels per day in January, a share of 28 percent . Energy cargo tracker Vortexa.
India, the world’s third-biggest crude importer after China and the United States, has been buying Russian oil, available after a waiver, as a means of punishing Moscow for its invasion of Ukraine by some in the West. Was.
The ministry’s data showed that imports from China increased by about 6.2 per cent to $90.72 billion during the April-February period.
Similarly, imports from the UAE increased by 21.5 percent to $48.88 billion.
India’s imports from the US increased by about 19.5 per cent to $46 billion during this period.
On the export front, the US emerged as the top destination for Indian exporters during the 11-month period, accounting for 17.5 per cent of the country’s total outbound shipments.
Exports to the US increased to $70.99 billion as against $68.447 billion during the April-February period of 2021-22.
According to the data, exports to the UAE rose to $28.63 billion in the April-February period, compared to $24.95 billion in the year-ago period.
However, exports to China declined to $13.64 billion during the period as against $19.81 billion during the April-February period of 2021-22.
In 2021-22, Russia was India’s 18th largest import partner with imports worth $9.86 billion.
From only 0.2 per cent of all the oil imported by India, Russia supplied 28 per cent of the total oil imported in January.
Russia has become India’s fourth largest import source in the first 11 months of the current financial year.
From a market share of less than 1 percent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to 1.27 million barrels per day in January, a share of 28 percent . Energy cargo tracker Vortexa.
India, the world’s third-biggest crude importer after China and the United States, has been buying Russian oil, available after a waiver, as a means of punishing Moscow for its invasion of Ukraine by some in the West. Was.
The ministry’s data showed that imports from China increased by about 6.2 per cent to $90.72 billion during the April-February period.
Similarly, imports from the UAE increased by 21.5 percent to $48.88 billion.
India’s imports from the US increased by about 19.5 per cent to $46 billion during this period.
On the export front, the US emerged as the top destination for Indian exporters during the 11-month period, accounting for 17.5 per cent of the country’s total outbound shipments.
Exports to the US increased to $70.99 billion as against $68.447 billion during the April-February period of 2021-22.
According to the data, exports to the UAE rose to $28.63 billion in the April-February period, compared to $24.95 billion in the year-ago period.
However, exports to China declined to $13.64 billion during the period as against $19.81 billion during the April-February period of 2021-22.
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