The sharp rise of China-India-Russia trade to 452 B USD in 2023 signals the formation of an independent economic axis, deepening cooperation in energy, industry, and technology beyond Western-centric systems.
Trade among the three major BRICS powers — China, India, and Russia — surged to 452 B USD in 2023, up from 351 B USD in 2022. This sharp increase shows that their economic cooperation is becoming one of the key pillars of the emerging global trade order, accelerating the gradual shift away from Western-dominated financial systems.
China remains Russia’s largest trading partner, with oil, gas, and other natural resources accounting for the bulk of Moscow’s exports to Beijing. In return, China supplies machinery, industrial goods, and technology products to the Russian market, becoming a vital source of industrial support.
India is also playing an increasingly significant role in this trade triangle. Its large-scale imports of energy — especially crude oil and coal — from Russia have strengthened New Delhi’s position in the partnership. Meanwhile, India exports a wide range of products, including chemicals, metals, and industrial goods, to both Russia and China, making the trade network more balanced and multidimensional.