China remains India’s top import source, Russia comes 4th in FY23

According to Commerce Ministry data, China remained India’s top destination for imports in FY23 as shipments rose 4.16% from the previous fiscal to $98.51 billion.

However, China’s share in India’s imports declined to 13.79%, with India shifting to other markets for fertilizers and e-goods. India’s imports from Russia grew 369.4% in FY23, making it India’s top 4th import source.