Putin and Modi Forge Path to $100 Billion Trade at BRICS

Ahead of the BRICS Summit, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi discussed ambitious trade goals, aiming for USD 100 billion in bilateral trade by 2030. Key discussions included enhancing industrial cooperation, civil nuclear projects, and strategic joint ventures to boost India-Russia economic ties.

Ahead of the formal opening of the 18th BRICS Summit, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi engaged in pivotal talks on Friday. The central agenda is to propel bilateral trade, with an ambitious target of reaching USD 100 billion by 2030, according to sources.

Commerce and Industry Minister Piyush Goyal has emphasized the urgency for an accelerated economic partnership between India and Russia. Speaking at the INNOPROM India 2026 Co-Chair Plenary Session in New Delhi, Goyal highlighted the need to raise bilateral trade from its current $60 billion to $100 billion. This goal demands a $40 billion increase in the next four years, maintaining double-digit annual growth.

INNOPROM's success in India reflects on the agenda, facilitating industrial collaboration with Russia. Expanding cooperation in sectors like rail, steel, and broader access to the Russian market was highlighted as essential steps. INNOPROM serves as a global hub for manufacturers and buyers, offering a platform for showcasing cutting-edge technologies and building productive B2B relationships.

Discussions between Modi and Putin also touched on civil nuclear cooperation, skilled labor exchange, critical minerals, and fertilization projects. Sources indicate Putin's visit is poised to amplify the strategic partnership between India and Russia, setting the stage for future governmental and economic initiatives.