1 India’s imports from Russia have reached an all-time high

According to Centre for Monitoring Indian Economy (CMIE) data, India’s imports from Russia stood at $21.4 billion between April and September 2022. Despite being the import value for just half of the fiscal, this is an all-time high by quite a distance for India’s annual imports from Russia. The second highest number in the annual series is $9.9 billion in 2021-22. For the April-september period in 2021-22, India’s imports from Russia were $4.2 billion.

According to preliminary official data, India’s merchandise imports from Russia were worth $3.84 billion in October 2022, more than 414% jump over $700 million worth of imports in the same month previous year. Imports mainly comprised energy (crude oil, petroleum products, coal, coke) and fertilisers.