The trade turnover between Russia and India grew 11 times from 6.3 bn to the record-breaking $68.7 bn in 2025, Sber Bank said quoting a research completed by Strategy Partners.
Theoretically, the potential of Indian export is estimated to make $35.7 bn, the achievable growth by 2030 is $11 bn, which means 3-fold growth compared to the 2024-2025 level.
Despite the growth in the two countries’ trade turnover during the past 10 years, its structure is asymmetric due to the trade imbalance.
India’s export to Russia makes just $4.9 bn while its trade deficit amounts to $58.9 bn. Russia’s export to India consists mainly of crude oil.
India exports more than $860 bn worth of goods annually, and Russia’s share is just under 1% of this figure. However, the commodity scope is expanding. While previously Russia exported mainly pharma products, rice, tea, some chemical products and textiles, now it also buys car parts, industrial chemicals, and electronic goods.
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