India and Russia Push for $100 Billion Trade by 2030
India and Russia are stepping up efforts to expand bilateral cooperation, with both countries targeting $100 billion in trade by 2030. Indian Ambassador to Russia Vinay Kumar said Prime Minister Narendra Modi and Russian President Vladimir Putin had instructed their governments to strengthen cooperation across trade, commerce and other sectors.
In an interview with Russian news agency TASS, published on October 24, Kumar said the two leaders reviewed the full range of bilateral relations on the sidelines of the BRICS summit held in New Delhi on September 12–13, 2026.
The leaders also participated in the BRICS business summit and visited the INNOPROM India exhibition, the first Russian industrial exhibition held in New Delhi. These engagements are expected to support business partnerships and create new opportunities for companies in both countries.
Two-Way Investment Target Set at $50 Billion
Alongside the trade target, India and Russia aim to increase bilateral investment to $50 billion by 2030. Both sides are looking to expand economic engagement beyond existing areas and strengthen industrial and commercial links.
India is also seeking greater access for its products in the Russian market. Pharmaceuticals, engineering goods, food products, chemicals, textiles and automobile components are among the sectors with potential to increase Indian exports.
The two countries are also working to strengthen transport connectivity, payment mechanisms and industrial partnerships to support the expansion of trade.
India Offers Skilled Workforce for Russian Industries
Labour cooperation is another area of focus. Kumar said India was prepared to provide skilled workers to Russia based on the requirements of its industries.
According to the envoy, Indian nationals account for around 25% to 30% of Russia’s foreign-worker quota. India has also proposed that Russia establish educational institutions in India or collaborate with existing institutions to train workers for specific industrial needs.
The initiative could help address workforce requirements in Russia while creating employment opportunities for Indian professionals.
Focus on Expanding Economic Partnership
The latest push reflects a broader effort to diversify India-Russia economic ties and increase trade in sectors beyond traditional areas of cooperation. Achieving the $100 billion target will require sustained growth in bilateral commerce, stronger Indian exports and greater participation from businesses in both countries.
The proposed expansion of investment and workforce cooperation is expected to play an important role in advancing the economic partnership through 2030.
