
How Russian Oil Bulked Up India's Exports
Import of petroleum-related products from Russia accounted for $27.7 billion in April-December 2022, a 700 % increase from $3.4 billion a year ago.
Import of petroleum-related products from Russia accounted for $27.7 billion in April-December 2022, a 700 % increase from $3.4 billion a year ago.
“With Europe maintaining sanctions on Russia, we expect the trade to divert from Russia to India,” says A Shakhtivel, President, FIEO.
The law firm adds that streamlining the GST refund process is the need of the hour.