New Delhi. Russian President Vladimir Putin will reach India today on a two-day visit. On the invitation of Prime Minister Narendra Modi, Putin will participate in the 23rd India-Russia annual summit in New Delhi. Apart from India-Russia traditional defense deals, there is a possibility of a mobility pact to provide employment to skilled workers in Russia during Putin’s visit to India. Besides, there can also be a civil nuclear deal between the two countries. Despite pressure from America and European countries, India is continuously expanding its trade relations with Russia. Bilateral trade between the two countries has increased five times in the last four years from $ 13 billion to $ 68 billion by 2024-25. Russia and India have decided to increase it to 100 billion dollars by the year 2030.
According to the latest trade data, in the April-August period of FY 26, India’s exports to Russia stood at around $1.84 billion, while imports from Russia stood at $26.45 billion. Earlier, India’s bilateral trade in goods with Russia had reached a record $68.7 billion in the financial year 2024-25, of which exports were about $4.88 billion and imports were $63.84 billion.
Big opportunity for India
In April-August, India’s exports to Russia were $1.84 billion, while imports from Russia were $26.45 billion, which mainly included crude oil, petroleum products, fertilizers and other raw materials. According to the Federation of Indian Export Organisations, the exit of many Western companies from Russia has created a significant opportunity for Indian exporters to fill the void in various sectors.
India has many opportunities to increase exports to Russia in sectors like pharmaceuticals, engineering and electronics, agro-products, auto and auto-components and IT services. The revival and expansion of logistics corridors such as the International North-South Transport Corridor (INSTC) has also made bilateral trade between nations more cost-effective.
What does Russia buy from India?
Russia mainly imports products like medicines, agricultural products, chemicals, machinery and electronics from India. These imports are to meet Russia’s domestic needs, industrialization and consumer demand. India exported pharmaceutical products worth 340 to 405 million dollars to Russia in the financial year 2024-25. India exported fish, shrimp, rice, tobacco, tea, coffee, grapes, vegetables, bakery meat worth $233 million to Russia. Chemicals worth $169 million were also sold to Russia.
What does India buy from Russia?
Russia mainly provides energy resources, fertilizers, defense equipment and other raw materials to India. These imports are important for India’s energy needs, agricultural productivity and strengthening defense capabilities. Now India is buying maximum crude oil from Russia. According to data from ship-tracking firms Kpler and OilX, India bought about 14.8 lakh barrels per day of Russian oil in October 2025.
