Politics · India Bureau
Modi, Putin chart ambitious roadmap to expand India-Russia economic ties
India and Russia have set their sights on achieving $100 billion in bilateral trade by 2030, with Prime Minister Narendra Modi and President Vladimir Putin directing their governments to accelerate cooperation across multiple sectors.
LSN India ·
Prime Minister Narendra Modi and Russian President Vladimir Putin have tasked their respective governments with deepening bilateral ties and expanding economic collaboration, according to India's Ambassador to Russia Vinay Kumar.
Speaking to Russian news agency TASS, Kumar said the two leaders discussed the full spectrum of India-Russia relations during their meeting on the sidelines of the BRICS summit held in New Delhi on September 12-13. The discussions yielded concrete outcomes, including joint participation in the BRICS business summit and a visit to the Innoprom-India exhibition, marking the first Russian industrial showcase in India.
"The leaders have directed relevant ministries and agencies to further develop cooperation in trade and commerce," Kumar told TASS. The $100 billion trade target by 2030 represents a significant escalation from current levels, underscoring both nations' commitment to strengthening economic integration.
India and Russia have long maintained strategic partnership ties spanning defence, energy, and technology sectors. The renewed push for expanded trade cooperation reflects both countries' interest in diversifying their economic engagement amid shifting global dynamics. The directive from Modi and Putin is expected to accelerate bilateral initiatives in manufacturing, industrial collaboration, and commercial partnerships in the coming years.