India and EAEU to Advance Trade Talks Amid Diversification Push

India and EAEU are set to resume trade agreement talks in February, following terms set in August 2025. This accord aims to diversify India's export markets away from US tariffs, focusing on sectors like MSMEs, farming, and fishing. Currently, Russia leads in trade volume with India within the bloc.

India and the Eurasian Economic Union (EAEU) are poised to continue negotiations for a prospective trade agreement early next year, following the initial discussions held recently. The framework for this agreement, signed in August, intends to expand India's market reach beyond the high US tariffs.

In August 2025, both parties outlined an 18-month agenda to explore diverse markets for Indian businesses, particularly small and medium enterprises, as well as farmers and fishermen. This strategic move comes in light of India's current trade relations with the EAEU's five-member countries: Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

Russia stands as India's leading trade partner within the grouping, with a bilateral trade volume of USD 68.72 billion, driven significantly by crude oil imports. With the upcoming negotiations, India hopes to balance these figures by increasing its exports to other EAEU nations.

(With inputs from agencies.)