According to resources, the total export to Russia from India reached an estimated revenue of $2.5 Billion by the year 2021.
Trade agreements have also been signed between both countries in order to support exports.
Pharmaceuticals, Mineral fuels, and Electrical equipment are the major exported products from India to Russia.
According to resources, the E-commerce market in Russia has reached $41.5 Billion in 2021 with a growth rate of 18.96% and is expected to reach approx $70 Billion by 2025.
The main reason behind the eCommerce growth is the Internet penetration rate in Russia which is 85% at the present moment.
So, itβs a good scope for Indian exporters and sellers to grab the Russian market whether through offline channels or online selling platforms & marketplaces in Russia.
Useful resources