India and Russia move to consolidate long-term economic alignment through expanded trade roadmap

India has reiterated its intention to strengthen its commercial and economic ties with Russia as part of its broader vision to become a developed nation by 2047, according to an official briefing following high-level consultations in Moscow. This is reported by Prensa Latina, a partner of TV BRICS.

The review of India–Russia relations placed particular emphasis on the ongoing negotiations for a Free Trade Agreement between India and the Eurasian Economic Union (EAEU). Senior Indian and Russian officials assessed progress across multiple sectors and agreed on concrete next steps to advance the partnership.

During the visit, India’s Commerce Secretary Rajesh Agrawal held discussions with Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, and Mikhail Yurin, Russia’s Deputy Minister of Industry and Trade. He also participated in a virtual plenary session with Indian and Russian industry representatives.

According to India’s Ministry of Commerce and Industry, the talks built on the agenda of the India–Russia Working Group on Trade, with a continued focus on diversifying bilateral trade, strengthening resilient supply chains, ensuring regulatory predictability and supporting balanced growth in the partnership.

Both sides reaffirmed their shared intention to reach US$100 billion in bilateral trade by 2030 and to broaden India’s export profile through deeper industrial and technological cooperation.

Officials explored avenues to advance collaboration in critical minerals. They agreed on a time-bound roadmap for key sectors, including pharmaceuticals, telecommunications equipment, machinery, leather, automotive components, and chemicals.

Authorities from both countries also consented to holding quarterly meetings between regulatory bodies to streamline certification requirements and expand listings for agricultural and marine products.

Photo: Oleksii Liskonih / iStock