20 mai 2025
India is Azerbaijan’s third-largest importer of crude oil. Azerbaijan imports 84% of its rice from India.
Azerbaijan heavily relies on oil and gas trade, which accounts for 90% of its exports. India imported crude oil worth USD 663.63 million in FY23, when the overall India-Azerbaijan trade reached USD 779.28 million.
In 2023, Azerbaijan imported rice worth USD 50 million; India supplied 84% of it. India imported goods worth USD 115.65 million in FY23, ET reported. Of these, tobacco accounted for the largest chunk of exports at USD 23.5 million, followed by tea and coffee, pharma, and then non-basmati rice at USD 3.2 million.
The Confederation of All India Traders (CAIT) boycotted all trade with Turkey and Azerbaijan, including travel and tourism. The community of top Indian traders urged the film industry to boycott these two countries for film shoots.
While the Indian government has refrained from officially banning trade with them, visa applications and bookings for Turkey and Azerbaijan have dropped by 42% and 60%.
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