During 2012-13 both pharmaceuticals and electrical machinery goods have registered robust growth rate as against 2011-12, evidently as pharmaceutical export has grown at a rate of 32.4 per cent and electrical machinery has grown at a rate of 20.3 per cent.
Russia and Ukraine are India's two leading trade partners in the region, besides, Ukraine is also the gateway for India's exports to a number of other CIS countries. "A lengthened conflict will lead to shipments getting stuck."
India's bilateral trade with Ukraine during 2012-13 was $3.17 billion while bilateral trade with CIS countries was $10.8 billion, according to the analysis.
During 2012-13, India's bilateral trade with Ukraine has registered a growth rate of 6.5 per cent while in the ongoing financial year 2013-14, it has declined by 27.1 percent. "If uncertainty prevails for long time, India?s bilateral trade with Ukraine will further deteriorate."
India's export with Ukraine has declined by 7.08 per cent during April to January 2013-14, while the imports have declined by about 31 per cent during the same period. The major product imported by India from Ukraine includes edible oil, petroleum products, fertilizer, iron & steel, inorganic chemical, ores, salg & ash, nuclear reactors, boilers, machinery and mechanical appliances etc.