News Snapshot:
India’s exports to Russia have exceeded the levels before the war outbreak in Ukraine, even as the conflict in Europe drags down global trade growth. Led by engineering goods, drugs and pharmaceuticals, and organic and inorganic chemicals, India’s exports to Russia in February surged 25% from the preceding month to touch $337.58 million, commerce ministry data showed. Russia’s invasion of Ukraine in February 2022 disrupted trade in the Black Sea region and caused a near-collapse in exports to Russia, a key market for Indian pharma, engineering and tea exporters. In March 2022, exports slumped to a record low of $69.2...
