India expects $8-$9 bn bilateral trade with Russia, Sri Lanka in two months
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India expects $8-$9 bn bilateral trade with Russia, Sri Lanka in two months

India expects $8-$9 bn bilateral trade with Russia, Sri Lanka in two months

 

India expects $8-$9 bn bilateral trade with Russia, Sri Lanka in two months India expects bilateral trade worth $8-9 billion with Russia and Sri Lanka in the next two months after it allowed international trade in rupees, India's trade secretary said. 


"I see in the next two months $8-$9 billion of trade with Russia and Sri Lanka." India's imports from Russia, mainly crude oil, jumped nearly five times to more than $1.5 billion between the end of July and February. 24 when Russia invaded Ukraine, compared to the previous year, according to a source with direct knowledge of the matter. 


India reported a record trade deficit of $31.02 billion for July, three times higher than in the same period last month, due to a fall in exports and high imports, according to the latest preliminary trade data.

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