Archive · 21 Jan 2026
India-Russia Trade Hits Record $68.7 Billion
Russian Prime Minister Mikhail Mishustin announced that trade between India and Russia has reached a record high of $68.7 billion.
This is a big increase from just $13 billion a few years ago.
Both countries want to increase trade to $100 billion by 2030.
Russia has been selling more energy and other goods to countries like India, China, and Kazakhstan instead of some Western countries.
They are also using their own currencies, like the rouble, for most of their trade deals.
This shows that Russia and India are becoming stronger economic partners.
India-Russia trade hit a record $68.7 billion in 2024-25, up from $13 billion in 2021.
Both countries aim to reach $100 billion in trade by 2030.
Russia has redirected 80% of its energy exports to friendly countries like India, China, and Kazakhstan.
86% of Russia's trade is now with friendly countries, up from previous years.
85% of Russia's trade settlements are in national currencies, with the rouble accounting for over half.
- Who
- Russian Prime Minister Mikhail Mishustin
- What
- Announced record India-Russia trade and economic shifts
- When
- 2025
- Where
- Russia
- Why
- To highlight economic adaptation and growth with friendly countries
- Trade Value
- $68.7 billion (2024-25)
- Trade Growth
- 5-6x increase since 2021
- Trade Target
- $100 billion by 2030
- Key Partners
- China, Belarus, India, Kazakhstan
- Trade Share
- 86% with friendly countries
- Energy Redirection
- 80% to friendly countries (2025)
- Currency Use
- 85% in national currencies
- Rouble Share
- Over 50% of transactions
Sources
Russian foreign minister Lavrov hails India ties, calls for revival of Russia-India-China trilateral
Russian Foreign Minister Calls For Reactivation Of Russia-India-China Trilateral
India-Russia Trade Explodes To $68.7 Billion Record, Eyes $100 Billion By 2030
Current state of the economy provides ground for optimism: RBI bulletin
Total flow of financial resources to the commercial sector jumped 45% to ₹30.8 lakh cr: RBI Bulletin
