Business · Trade · 19 hrs ago
India and Russia target $100 billion in trade by 2030
India’s Narendra Modi and Russia’s Vladimir Putin have directed their governments to expand cooperation after discussing relations at the BRICS summit in New Delhi.
Their plans include raising bilateral trade to $100 billion by 2030 and increasing two-way investment to $50 billion.
The leaders also took part in the BRICS business summit and visited Innoprom-India, the first Russian industrial exhibition held in New Delhi.
The two countries are also discussing India supplying skilled workers to meet Russia’s needs.
Indians make up about 25 to 30% of Russia’s quota for foreign workers.
India has proposed that Russia set up educational institutions in India or work with existing ones to train workers for Russian industries.
Government ministries and agencies are to develop cooperation further, including in trade and commerce.
Indian Ambassador Vinay Kumar said Narendra Modi and Vladimir Putin directed their governments to expand cooperation between India and Russia.
The leaders discussed bilateral relations on the sidelines of the BRICS summit in New Delhi on September 12-13.
India and Russia are working to raise bilateral trade to $100 billion by 2030, Kumar said.
They are also working towards two-way investment of $50 billion by 2030.
Kumar said India aims to supply Russia with skilled workers and proposed Russian training institutions or partnerships in India.
- Who
- Indian Prime Minister Narendra Modi and Russian President Vladimir Putin directed their governments to expand cooperation.
- What
- They instructed officials to further develop bilateral cooperation, including trade and commerce.
- When
- They discussed relations on the sidelines of the BRICS summit on September 12-13. The report was published on October 24, 2026.
- Where
- New Delhi, India, where the BRICS summit was held.
- Why
- To further develop cooperation between the two countries, including trade and commerce.
This story does not have two clearly opposing sides.
Modi and Putin discussed the full range of bilateral relations on the sidelines of the BRICS summit in New Delhi.
The II Russian-Indian business forum was held in Kazan.
TASS published an interview with Indian Ambassador Vinay Kumar about the leaders' instructions to expand cooperation.
- Trade target
- $100 billion by 2030
- Two-way investment target
- $50 billion by 2030
- BRICS summit
- New Delhi, September 12-13
- Business forum
- Kazan, October 15-16
- Indian ambassador to Russia
- Vinay Kumar
4 sources
PM Modi, Vladimir Putin direct officials to expand cooperation, target $100 bn trade by 2030: Envoy
India, Russia aim for $100 billion trade by 2030 as Modi, Putin push cooperation
Putin and Modi instruct governments on trade development — ambassador to Russia
What people are saying
One of the concrete results of [the cooperation] was the joint participation of the leaders of our countries in the BRICS business summit, as well as a visit to the Innoprom·India exhibition — the first Russian industrial exhibition held in New Delhi.
This allowed the leaders to discuss the entire range of bilateral relations and give instructions to the relevant ministries and agencies on further developing cooperation, including in the areas of trade and commerce.