India's imports from Russia rises sharply in 2021-22

India's imports from Russia rose to USD 8.69 billion in the first 11 months of 2021-22, which is 58 per cent higher than the total imports of USD 5.48 billion recorded in the full financial year 2020-21, the government data showed on Wednesday.

India's exports to Russia rose to USD 3.18 billion in April - February period of 2021-22 from USD 2.65 billion recorded in the full year 2020-21, Union Minister of State for Commerce and Industry Anupriya Patel said in a written reply in the Lok Sabha.

India-Russia's total trade in the first 11 months of the financial year ended March 31, 2022, rose to USD 11.86 billion from USD 8.14 billion recorded in the financial year 2020-21.

India's trade with Ukraine has also increased sharply. India's total trade with Ukraine rose to USD 3.09 billion in the first 11 months of 2021-22 from USD 2.59 billion in 2020-21.

"The effect of the war on exports/imports from Russia and Ukraine can be assessed only after the situation stabilises," the minister said.

( With inputs from ANI )