India-Russia trade agenda sets a USD 100 billion target for 2030
The two countries are pursuing higher trade, a bilateral investment treaty and formal negotiations on an India-Eurasian Economic Union agreement.
Commerce Minister Piyush Goyal has called for India-Russia bilateral trade to increase from about USD 60 billion to USD 100 billion by 2030, alongside a USD 50 billion two-way investment target.
At INNOPROM India 2026, he identified pharmaceuticals, engineering, chemicals, textiles, food, marine products and auto components as areas for stronger Indian exports. He also said a bilateral investment treaty was being fast-tracked, formal India-Eurasian Economic Union trade negotiations had begun and 40 priority investment projects were being tracked.
Why it matters
A more balanced trading relationship would affect exporters, industrial investment, payment systems, logistics and the wider strategic economic partnership.
SCULTRA point of view
The targets provide direction, but results will depend on market access, settlement mechanisms, sanctions exposure, logistics, legal certainty and conversion of the identified projects.
Limitations
The trade and investment figures are targets stated by a minister, not guaranteed outcomes. The release does not include the full project list or a concluded treaty or trade agreement.
Source: Press Information Bureau / Ministry of Commerce and Industry, 10 September 2026, 7:10 PM IST.