New Delhi has a detailed plan with Moscow to diversify trade dominated by energy and defense, the Indian ambassador has said<\/p>\n
India and Russia are creating a framework to boost bilateral trade to $100 billion by 2030, New Delhi\u2019s ambassador to Moscow has said.
\nTrade between the two countries has increased\u00a0more than six-fold in the past two years, exceeding $65 billion in 2024, according to official estimates.
\n\u201cWe just agreed between the two countries a strategic economic plan for 2030,\u201d India\u2019s ambassador to Russia, Vinay Kumar, said at the XVI Russian-Indian Business Dialogue in Moscow on Tuesday.
\nThe strategic plan is detailed enough to \u201cidentify the various sectors we need to work and also mention the institutions and the agencies which have to deliver on that and also do the monitoring,\u201d Kumar added.
\nDuring Prime Minister Narendra Modi\u2019s visit to Russia last year, the two countries set a target to boost trade to $100 billion by 2030. Russia and India signed a dozen memoranda spanning infrastructure, energy, pharma and media sectors during President Vladimir Putin\u2019s visit to New Delhi earlier this month.<\/p>\n
Read more<\/p>\n
Putin and Modi seal plans for Russia-India trade boost: State visit recap<\/p>\n
Top officials at this week\u2019s business dialogue in Moscow said Russia is keen to expand and diversify trade with India, which is now dominated by energy and defense.
\nSergey Cheryomin, head of the Department of Foreign Economic and International Relations of the City of Moscow, referred to India\u2019s Smart City program as a potential avenue for cooperation.
\n\u201cMoscow can offer unique digital solutions related to video analytics and big data processing, creating a high end and one of the best video surveillance systems in the world,\u201d he said.
\nLabor mobility is another key topic in discussions. Russia is experiencing a significant labor shortage, particularly in its industrial regions. The Russian Labor Ministry estimates that this shortfall could reach 3.1 million workers by 2030. As a result, thousands of Indian blue-collar workers have already been employed by various Russian companies in the industrial, construction, and logistics sectors.<\/p>\n
‘Interest Is Growing Day By Day’ – Labour Expert Elena Velyaeva ON The Positive Results Of Indian Labour In Russia Indian workers show “flexibility and adaptability’ to worklife in Russia, the COO of Employment Agency INTRUD told RT India at XVI India-Russia Business Forum. pic.twitter.com\/34N4ODjmoc\u2014 RT_India (@RT_India_news) December 17, 2025 <\/p>\n
India has been actively negotiating a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), which includes Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan, since August. The FTA will allow India greater market access to Russia and other countries in the former Soviet Union, with reduced tariffs and simplified legal and customs processes, supporting medium-scale enterprises and farmers.<\/p>\n","protected":false},"excerpt":{"rendered":"
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