# India-Russia economic and trade cooperation

> Live situation record from CLSTR: https://clstr.news/situations/india-russia-economic-and-trade-cooperation
> Updated: 2026-10-24T07:37:45.000Z. Sources: 12. Developments: 2.

India is pursuing significant economic expansion through strategic trade agreements and strengthened ties with Russia. Early reports indicate that India’s export engine has been bolstered by free trade agreements with the UK, European Union, and UAE, alongside a weaker rupee, leading international agencies to upgrade growth forecasts.

Regarding bilateral relations, trade turnover between India and Russia reached $38 billion in the first half of 2026. Leaders from both nations have set a target to increase bilateral trade to $100 billion and two-way investment to $50 billion by 2030. To support these goals, India is negotiating a free trade agreement with the Eurasian Economic Union to reduce non-tariff barriers in the agricultural and marine sectors.

Following the BRICS summit in New Delhi on September 12 and 13, Prime Minister Narendra Modi and Russian President Vladimir Putin directed their governments to expand bilateral ties. This includes joint participation in the BRICS business summit and the Innoprom-India exhibition, the first Russian industrial exhibition held in New Delhi. 

Labor cooperation remains a priority, as Indian nationals currently account for approximately 25 to 30 percent of Russia’s foreign worker quota. To sustain this, New Delhi has proposed that Russia establish educational institutions in India or collaborate with existing Indian entities to train specialists specifically for Russian industries. This initiative leverages India’s potential as a global hub for skilled personnel, supported by a workforce that constitutes about 69 percent of its population.

## Claims

- India and Russia aim to increase bilateral trade to $100 billion by 2030. (corroborated by 9 sources)
- The two nations aim to reach $50 billion in bilateral investment by 2030. (corroborated by 9 sources)
- Narendra Modi and Vladimir Putin directed their governments to expand bilateral cooperation. (corroborated by 9 sources)
- Indians account for 25 to 30 percent of Russia’s quota for foreign workers. (corroborated by 8 sources)
- The BRICS summit took place in New Delhi on September 12 and 13. (corroborated by 7 sources)
- India proposed that Russia establish educational institutions in India to train workers for Russian industries. (corroborated by 7 sources)
- Tatarstan is seeking to expand direct trade and investment with India. (single source)
- Bilateral trade between Tatarstan and India exceeded $350 million last year. (single source)

## Timeline

### 2026-10-24: India and Russia target $100 billion trade by 2030

India and Russia aim to reach $100 billion in bilateral trade and $50 billion in investment by 2030, following directives from Prime Minister Modi and President Putin to expand economic and labor cooperation.

10 sources. https://clstr.news/cluster/india-and-russia-target-100-billion-in-bilateral-trade-by-2030

### 2026-10-15: India leverages FTAs and Russia trade ties to drive economic growth

India's economic growth is being bolstered by strong exports and FTAs, while bilateral trade with Russia aims to reach $100 billion by 2030 through expanded agreements with the Eurasian Economic Union.

2 sources. https://clstr.news/cluster/india-leverages-ftas-and-russia-trade-ties-to-drive-economic-growth

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Cite as: India-Russia economic and trade cooperation. CLSTR, https://clstr.news/situations/india-russia-economic-and-trade-cooperation