Indian exports to Russia of dual-use goods, such as microchips, microcircuits, and machines, reached nearly $100 million, writes Bloomberg citing anonymous officials. Thus, India became the second largest supplier of technologies that can be used in the Russian defense industry after China.
The growth began this spring, with Indian exports of microchips, microcircuits, and machines exceeding $60 million in April and May, which is about twice as much as in the previous months of this year, and in July it increased to $95 million.
Almost a fifth of the secret technologies entering the Russian military-industrial complex come through India, the agency writes citing officials. According to officials interviewed by journalists, a key factor in this shift is the huge reserve of rupees accumulated by Russia from oil sales.
As Bloomberg notes, the export of most dual-use goods directly to Russia is prohibited, so it is forced to buy them in third countries, sometimes from subsidiaries of Western firms or intermediary networks. As Western allies try to limit some of these routes through Turkey and the UAE, new centers are emerging. According to informed sources, these include India, Malaysia, and Thailand.
This increased cooperation with Russia has made India the focus of attention from the European Union and US sanctions agencies in recent months. In July, US Deputy Treasury Secretary Wally Adeyemo wrote a letter to senior officials of the Confederation of Indian Industry warning of the sanctions risks for Indian companies and banks doing business with the Russian defense industry.
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