India’s imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil and fertiliser from that country, according to the commerce ministry data.
With this, Russia has become India’s second largest import source during the first four months of this fiscal.
The imports were USD 10.42 billion during April-July 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.
