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3 clusters · 17 sources · 6 days · First seen · Last updated

India-Eurasian Economic Union trade relations

Overview

India is pursuing economic diversification and strengthened bilateral ties through trade negotiations and high-level diplomatic engagement. The government is negotiating a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU) to reduce trade barriers and increase market access for various sectors, including pharmaceuticals, textiles, IT, and agriculture.

During the 27th session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) held in Moscow on August 23-24, 2026, Indian External Affairs Minister S. Jaishankar and Russian First Deputy Prime Minister Denis Manturov emphasized the need to expand trade beyond traditional fuel and fertilizer supplies. Jaishankar noted that while bilateral trade has grown more than fourfold since 2021-22—rising from approximately $13 billion to over $60 billion in 2025-26—this rapid expansion has widened the trade imbalance. To address this, officials highlighted the necessity of improving market access, removing trade barriers, and strengthening payment mechanisms.

Both nations are working toward a bilateral trade target of $100 billion by 2030. Manturov stated that the EAEU-India FTA is in an active stage of preparation and is expected to serve as a “new driver of sustainable trade growth.” Discussions also encompassed cooperation in energy, space, connectivity, and the potential advantages of the Northern Sea Route.

Entities

Eurasian Economic Union · Denis Manturov · Russia · S. Jaishankar · India

Claims

What the coverage asserts, and how many sources carry each claim.

Timeline

  1. 1 day ago

    [BUSINESS] 2 sources
    India and Russia seek trade diversification and EAEU free trade agreement

    India and Russia are seeking to diversify trade and finalize a free trade agreement with the Eurasian Economic Union to reach a $100 billion bilateral trade target by 2030.

  2. 4 days ago

    [INTERNATIONAL] 13 sources
    S. Jaishankar to visit Russia to co-chair 27th IRIGC-TEC session

    Indian External Affairs Minister S. Jaishankar will visit Russia on August 23-24, 2026, to co-chair the 27th IRIGC-TEC session and hold talks with Foreign Minister Sergey Lavrov on bilateral and global issues.

  3. 7 days ago

    [BUSINESS] 4 sources
    India negotiates Free Trade Agreement with Eurasian Economic Union

    India is negotiating a Free Trade Agreement with the Eurasian Economic Union to boost market access and diversify supply chains away from Western economies toward Russia, Kazakhstan, and Belarus.

Sources

agniban.com · deccanchronicle.com · desitalkchicago.com · dnaindia.com · en.vietnamplus.vn · hindi.newsbytesapp.com · indiandefensenews.in · indias.news · kitesurf.co · krishijagran.com · latestly.com · madhyamamonline.com · newindianexpress.com · newsable.asianetnews.com · on.rt.com · rt.com · sputniknews.in

This summary has been updated 2 times: see revision history