Modi and Putin pledge deeper cooperation to hit $100 bn India-Russia trade goal by 2030
India and Russia agreed to accelerate trade and investment, targeting $100 bn in bilateral commerce and $50 bn in two-way investment by 2030.
At the BRICS summit in New Delhi, Prime Minister Narendra Modi and President Vladimir Putin instructed their governments to deepen bilateral ties, aiming for $100 bn in trade and $50 bn in two-way investment by 2030. Ambassador Vinay Kumar said that the leaders covered the full spectrum of cooperation, including joint attendance at the BRICS business summit and a visit to the inaugural Innoprom-India industrial exhibition.
Relevant ministries have been ordered to pursue these targets aggressively. Kumar added that India intends to provide a larger share of Russia’s foreign-worker quota, noting that Indians already make up about a quarter of that pool. With a youthful workforce averaging 29 years, India proposes that Russia either set up educational institutions in India or partner with existing Indian schools to train specialists for Russian industries.
Why it matters
The agreement could reshape trade flows and labor markets between two major economies, influencing global supply chains.
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