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Russia, India to reach $100 bln worth of trade turnover earlier than 2030 — official

Russia and India signed two joint statements and nine more documents, mainly in the economic area, during Indian Prime Minister Narendra Modi’s visit to Moscow on July 8-9

NEW DELHI, November 11. /TASS/. Russia and India may reach $100 bln worth of trade turnover through joint efforts earlier than by 2030, Sergey Cheremin, a minister in the Moscow city government and director of the city’s foreign economic and international relations department, head of the Business council on cooperation with India, said.

"We are open for partnership in all areas and through joint efforts we will hit the goal of $100 bln worth of bilateral trade announced by our leaders far earlier than by 2030," he said at the Russian-Indian business forum in Mumabi.

Russia and India signed two joint statements and nine more documents, mainly in the economic area, during Indian Prime Minister Narendra Modi’s visit to Moscow on July 8-9. They concern cooperation in the trade, economic and investment fields in the Far East in the period through 2029, encouragement of mutual investment, cooperation in the area of environment and climate change, polar and oceanic research, cooperation between arbitration bodies. Leaders of the two countries, Prime Minister of India Narendra Modi and President of Russia Vladimir Putin, set the goal of reaching trade turnover worth $100 bln by 2030. Trade between India and Russia grew 1.8-fold to $65.7 bln in the 2023-2024 financial year ended on March 31. Russia became India’s fourth-biggest trade partner after the US, China, and the UAE.

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India Trade & Cooperation

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