Vol. 9, Issue 7, Part A (2023)

India-Russia trade relations have a long history, dating back to the Soviet era. Both countries have been important trading partners for each other, with India being one of the largest buyers of Russian arms and Russia being a key supplier of oil and gas to India. However, in recent years, the trade volume has not been able to match the potential, and there have been several challenges to the growth of trade between the two countries. But with the Russia’s special military operation in Ukraine this trend has reversed and trade between the two countries has boomed. This paper examines the emerging trends, current challenges, and future prospects of India-Russia trade relations, and identifies the key factors that are likely to shape the bilateral trade ties.