# India-Eurasian Economic Union trade relations

> Live situation record from CLSTR: https://clstr.news/situations/india-eurasian-economic-union-trade-relations
> Updated: 2026-08-24T12:27:07.000Z. Sources: 17. Developments: 3.

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.

## Claims

- S. Jaishankar will visit Russia on August 23-24, 2026. (corroborated by 11 sources)
- Jaishankar will co-chair the 27th session of the India-Russia Inter-Governmental Commission (IRIGC-TEC). (corroborated by 11 sources)
- Jaishankar is scheduled to meet Russian Foreign Minister Sergey Lavrov. (corroborated by 11 sources)
- The visit is at the invitation of Russian First Deputy Prime Minister Denis Manturov. (corroborated by 11 sources)
- Discussions between Jaishankar and Lavrov will cover regional and global issues. (corroborated by 11 sources)
- The commission focuses on trade, economic, scientific, technological, and cultural cooperation. (corroborated by 11 sources)
- Indian Ambassador Vinay Kumar stated that people-to-people ties are a core strength of India-Russia relations. (single source)
- India and Russia aim to achieve a $100 billion bilateral trade target. (single source)

## Timeline

### 2026-08-24: 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 sources. https://clstr.news/cluster/india-and-russia-seek-trade-diversification-and-eaeu-free-trade-agreement

### 2026-08-21: 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.

13 sources. https://clstr.news/cluster/india-and-russia-strengthen-economic-and-strategic-ties

### 2026-08-18: 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.

4 sources. https://clstr.news/cluster/india-negotiates-free-trade-agreement-with-eurasian-economic-union

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Cite as: India-Eurasian Economic Union trade relations. CLSTR, https://clstr.news/situations/india-eurasian-economic-union-trade-relations