Russia, India working to boost bilateral trade
Russia and India are actively working to significantly expand their bilateral trade, with both nations aiming to reach a target of $100 billion by 2030, up from the current level of around $60 billion, Kremlin spokesman Dmitry Peskov said on Wednesday.
Speaking on the sidelines of the 12th Primakov Readings international academic and expert forum, Peskov described the Russia-India relationship as a “privileged partnership” and highlighted the steady growth in trade volumes.”We are pleased to note that this volume is showing a steady uptrend. We will keep working along these lines,” Peskov said, according to Russian state media.
The ambitious $100-billion trade target was jointly set during Russian President Vladimir Putin’s visit to India in December 2025.
Peskov praised India’s remarkable progress, calling it the world’s most populous country and one of the fastest-growing major economies with vast potential across multiple sectors.
“Our relationship is further reinforced by our joint participation in various international organisations. We highly value this partnership and are dedicated to enhancing our cooperation and exploring new horizons together,” he added.
In a separate interview with Russia Today, Peskov lauded India’s rapid development trajectory. “India is one of the biggest countries, which shows a very high development pace,” he said. “The country which over the last 25 years has covered a big gap when it comes to economic and social development. And Narendra Modi, the Prime Minister, has been very successful.” The comments underscore the strong momentum in Russia-India ties, which both countries view as strategically important amid shifting global economic dynamics.
Trade between the two nations has grown substantially in recent years, driven by sectors such as energy, defence, pharmaceuticals, and technology.
Officials from both sides continue to explore new avenues to deepen economic cooperation and remove remaining barriers to achieve the 2030 goal.