In Q1 2024, the trade turnover between India and Russia reached $17.5 billion.

Trade between Russia and India hit a record high of US$17.5 billion in the first quarter of this year. The total exchange between the two countries surpassed $50 billion for the first time. India's Ministry of Industry and Commerce, as reported by Russia Today, stated that India-Russia trade experienced a 5% year-on-year growth, following a $17 billion increase in the second quarter of last year.

In the first quarter, Russia exported goods worth $16.3 billion to India, an increase from $15.6 billion the previous year. Indian goods exports to Russia also increased by 22% to $1.2 billion between January and March.

Russia is the second largest supplier of goods to India, following China, with shipments totaling $24.8 billion.