Last year witnessed a significant increase in Indian exports, with a 3 percent surge compared to the previous year. Approximately 294 million packages of medicines were shipped to Russia, as reported by Russia Today (RT).
This shift in supply dynamics saw India outpace Germany, which had been the leading supplier in both 2021 and 2022. However, Germany reduced its exports by nearly 20 percent last year, amounting to 238.7 million packages.
Over the last couple of years, Indian pharmaceutical firms have expanded their footprint in Russia, capitalising on the departure of Western competitors who are pulling out of the market amidst numerous sanctions imposed on Moscow.
