India leverages FTAs and Russia trade ties to drive economic growth

India is experiencing strong economic growth driven by robust export performance and strategic trade agreements. Former Union Minister Jayant Sinha noted that free trade agreements (FTAs) with the UK, European Union, and UAE, combined with a weaker rupee, have strengthened the country’s export engine and supported job creation. These factors have contributed to international agencies, including the IMF and World Bank, upgrading India’s GDP growth forecasts.

Simultaneously, India is working to expand its economic ties with Russia, with bilateral trade projected to reach $100 billion by 2030. Ambassador Vinay Kumar stated that trade turnover reached $38 billion in the first half of 2026. To facilitate this growth, India is negotiating an FTA with the Eurasian Economic Union (EAEU) to improve market access and diversify its export basket, specifically targeting the reduction of non-tariff barriers in the agricultural and marine sectors.