S Jaishankar Sees India-Russia Trade Goal Hitting $100 Bn Within 2030

Addressing the India-Russia Business Forum in Mumbai, EAM Dr. S Jaishankar outlined 10 key developments in India-Russia relations. He noted that bilateral trade stands at $66 billion, making the $100 billion goal by 2030 highly achievable. However, he emphasized the need to address the trade imbalance, which currently favors Russia. He highlighted the India-Eurasian Economic Union trade negotiations initiated this year, the first bilateral investment forum in Moscow, and the recently signed cooperation program for the Russian Far East. Dr. Jaishankar stressed the importance of mutual trade settlements in national currencies, a bilateral customs agreement, and enhanced connectivity through the North-South corridor, Chennai-Vladivostok route, and Northern Maritime route. He commended Russia’s growing appreciation of India’s "Make in India" initiative, promoting bilateral investment and manufacturing. Finally, he underscored the role of education, film, and cultural exchanges in fostering a holistic India-Russia relationship.