India-Russia Ties
PM says India, Russia trade may cross $100 billion mark much before 2030
This story was originally published at 17:29 IST on 5 December 2025
Register to read our real-time news.Informist, Friday, Dec. 5, 2025
--PM Modi: India, Russia trade may cross $100 bln mark much before 2030
--CONTEXT: Prime Minister Modi speaking at India-Russia Business Forum
--PM Modi: India, Russia making efforts to cut tariff, non-tariff barriers
--PM Modi: India, Russia to collaborate on mfg e-vehicles, auto parts
NEW DELHI – Given the strong pace of growth in cooperation between India and Russia, trade between the two countries may cross the $100 billion mark much before 2030, Prime Minister Narendra Modi said Friday. The two sides had last year set the 2030 target for bilateral trade.
To boost trade, India and Russia are working to cut all tariff and non-tariff barriers, Modi said, in the presence of Russia's President Vladimir Putin, at the India-Russia Business Forum. Putin is on a two-day visit to New Delhi.
The two countries are also committed to operationalising alternative trade routes like the International North–South Transport Corridor and the North Sea route for uninterrupted bilateral movement of goods, Modi said. These trade routes will be active soon, the prime minister added.
There is strong scope for collaboration between India and Russia in the manufacture of electric vehicles and automobile components, Modi said. Other sectors where the two countries can work together to build resilient supply chains are cement, fertilisers, electronics, textiles, and marine products, he added.
Russia is among India's top trading partners. Trade between the two countries in the financial year 2024-25 (Apr-Mar) was worth $68.70 billion, with imports by India, primarily crude oil, accounting for $63.81 billion. End
US$1 = INR 89.98
Reported by Krity Ambey
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
