India’s bilateral trade turnover was US$ 2.01 billion in 2015-16 (India’s exports were USD 260 million and imports were USD 1750 million). The FDI from Ukraine to India was USD 1.12 million as on February 2013. Pharmaceuticals account for majority of Indian exports to Ukraine. (India is the third largest exporter of pharmaceutical products to Ukraine, after Germany and France, in value terms). A number of Indian companies like Ranbaxy, Dr. Reddy’s Laboratories, Sun Group etc. have their representative offices in Ukraine. Representatives of major pharmaceutical companies have set up an ‘Indian Pharmaceutical Manufacturers’ Association in Ukraine. The trade figures for the last 5 years are as follows:
Values in US $ Millions
|3||India's Total Export||305 963,92||300 400,58||314 405,30||310,572.44||262,031.23|
|6||IMPORT||2 463,71||2 657,47||1 804,75||2,238.99||1,751.17|
|8||India's Total Import||489 319,49||490 736,65||450 199,79||4,48,044.62||380,665.13|
|11||TOTAL TRADE||2 954,93||177,26||2 286,01||2,587.89||2,010.28|
|13||India's Total Trade||795 283,41||791 137,23||764 605,09||7,58,617.06||642,696.36|
|17||India's Trade Balance||-183 355,57||-190 336,07||-135 794,49||-137,472.18||-118,633.91|
[Source: Department of Commerce, Ministry of Commerce and Industry, New Delhi]
In the economic field, bilateral cooperation continued to strengthen with nearly 20 Indian companies from the Federation of Indian Export Organizations (FIEO) 4 participating in the Ambiente Ukraine – a plastics exhibition in Kyiv from 9-12 October 2013 in Kyiv. This was followed by a 17 Member Indian business delegation under ASSOCHAM which took part in the INTERAGRO FAIR in Kyiv 30-31 October 2013.
An Indian company Kalpataru Power Transmission Ltd India has successfully completed a project “750 KV Rivne NPP – Kiev Substation Transmission Line”, which was inaugurated by H.E. Mr. Petro Poroshenko, the President of Ukraine on 21 December 2015.