MOSCOW, 16 Jul. Russia for the first time entered the top three largest trade partners of India: the trade turnover of the countries for five months of this year reached 27.1 billion dollars, follows from calculations based on data from the Ministry of Trade and Industry of India.
According to the data of the Ministry, in January-May, the volume of bilateral trade grew 3.8 times — to a record $27.1 billion.
This happened against the backdrop of a 3.9-fold increase in India's purchases of Russian goods — up to $26.5 billion, which allowed Russia to remain the second largest importer of goods into the country. In addition, the export of Indian products to Russia also increased sharply — 2.6 times, to $639 million.
China is still India's largest trading partner with a total trade turnover of $41.1 billion, although the figure for the year decreased by 9.3%. The United States remains second, whose volume of trade with India for the year decreased by 12.5% - to 30.4 billion dollars.
The trade turnover between the United Arab Emirates and India in January-May decreased by 11% — to $24.2 billion, as a result of which the country dropped to the fourth position. Saudi Arabia came in fifth with a turnover of $18.3 billion, down 9.1% year-on-year.