Imports from Russia doubles to $25.69 billion in Apr-Aug on oil, fertiliser
The country’s imports from Russia almost doubled to USD 25.69 billion during the April-August period this fiscal due to increasing inbound shipments of crude oil and fertiliser, according to the commerce ministry data.
With this, Russia has become India’s second-largest import source during the first five months of this fiscal.
The imports were USD 13.77 billion during April-August 2022.
From a market share of less than 1 per cent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to over 40 per cent.
