India Russia trade hits record high as economic cooperation expands

India Russia trade reached a record $68.69 billion, with both countries targeting $100 billion in bilateral trade by 2030.

NEW DELHI: India Russia trade has reached a record $68.69 billion in the 2025-2026 fiscal year, reflecting a sharp rise in economic cooperation between the two countries, according to India’s Commerce and Industry Secretary Amardeep Singh Bhatia.

Speaking to TASS ahead of his visit to Russia, Bhatia said India and Russia continue to maintain strong and sustainable economic ties that have expanded significantly in recent years. He described the partnership as resilient and strategic, supported by growing trade flows and long-term cooperation across key sectors.

The latest figures place bilateral trade close to $70 billion, marking an important milestone in relations between New Delhi and Moscow. Both countries have already set ambitious targets for the coming years, including increasing bilateral trade to $100 billion and mutual investment to $50 billion by 2030.

Bhatia said these goals provide a clear roadmap for deeper economic engagement. The expanding relationship comes as both sides look to strengthen trade, investment and industrial cooperation while building on existing areas of partnership.

India Russia trade has grown rapidly in recent years, helped by strong demand across energy, commodities, industrial goods and other sectors. Officials from both countries have repeatedly highlighted the need to diversify the trade basket and support more balanced growth in exports and investment.

The record figure is expected to add momentum to upcoming discussions during Bhatia’s Russia visit. Economic cooperation remains a central pillar of relations between the two countries, alongside wider strategic and diplomatic engagement.

With the 2030 targets now in focus, both sides are expected to explore new opportunities for businesses, investors and exporters. India Russia trade is likely to remain closely watched as the two countries work towards expanding commercial links and strengthening long-term economic cooperation.