The India Ukraine trade relation and economic co-operation has developed on the basis the long-standing friendship between the two countries.
In March, 1992 the Treaty on Friendship and Co-operation was signed between India and Ukraine, providing a major boost to India-Ukraine trade relations.
India Ukraine trade relations have been developing at a very fast pace. There has been a threefold increase in the India Ukraine trade during 2003-2005 and it has exceeded US$1 billion. Ukraine imports from India have doubled and stand at US$ 3,214 million in 2006, while Ukraine exports to India have increased by 3.6 times and stands at US$ 7,369 million in 2006. The total turnover in India Ukraine trade during 2005-2006 has exceeded US$ 3.1 billion (as of January, 2014).The main items being imported by Ukraine from India are drugs, pharmaceutical production,Ores and minerals, tobacco products, tea, coffee, spices, silk and jute. The main items imported by India from Ukraine are chemicals, equipment, machines and engines.