‘India and Russia moving confidently to achieve $100 billion trade target by 2030’

Moscow: India and Russia are confident of achieving $100 billion in bilateral trade by 2030, with efforts under way to widen the trade basket, Indian Ambassador to Russia Vinay Kumar said on Monday.

Calling the past year “particularly active”, Kumar said the target was “eminently possible”, citing President Vladimir Putin’s recent visit to India and growing economic engagement.

He said new items were being identified for trade and a proposed free trade agreement would further support the goal, with opportunities expanding in fertilisers, agriculture and engineering.

India–Russia trade touched a record $68.7 billion in FY25, driven largely by higher imports of Russian crude, according to reports. Kumar noted that a growing share of trade is being settled in national currencies, a trend expected to continue.

Prime Minister Narendra Modi has said the target could be met ahead of 2030, inviting Russian firms to invest and manufacture in India.