The curious case of India's trade with 'Hermit Kingdom' North Korea

Despite stringent economic sanctions in place, India is the 2nd largest exporter to North Korea

donald trump, kim jong un
US President Donald Trump and North Korean leader Kim Jong-un at Singapore summit| Photo: Reuters

Of the more than $36 billion worth of refined petroleum exported by India in 2017-18, a small trickle worth $16 million, managed to find its way to North Korea, despite economic sanctions currently in place. It constituted the largest component of India's exports measuring a significant $57.55 million to the country, something that policy experts feel may only increase now that the nation has agreed to neuter its nuclear weapons program. While official statistics from North Korea are hard to come by due to the ruling regimes limited contact with the larger global economy, ...