India and Russia Aim for $100 Billion Trade Milestone Before 2030

India and Russia are on track to achieve $100 billion in annual bilateral trade ahead of the 2030 deadline. The two countries are strengthening economic cooperation, addressing trade challenges, and exploring new collaborations, as emphasized at the 25th India-Russia Intergovernmental Commission meeting.

India is aiming to hit the $100 billion mark in bilateral trade with Russia well before the 2030 target, according to External Affairs Minister S. Jaishankar. The minister highlighted significant progress, despite challenges in payments and logistics, during the 25th India-Russia Intergovernmental Commission.

The meeting, co-chaired by Jaishankar and Russia's First Deputy Prime Minister Denis Manturov, underscored the importance of creating a broad-based framework to boost economic engagement. Key agenda items included trade, investments, science and technology, and healthcare, with both nations striving for a balanced trade relationship.

Jaishankar noted Russia's interest in India's Make in India program and stressed that complementing economies can benefit from enhanced collaboration. The assembly touched upon significant strides in various sectors and reinforced the special strategic partnership between the two nations.

(With inputs from agencies.)