Putin and Modi Forge Path for Enhanced Indo-Russian Trade

In a significant meeting ahead of the 18th BRICS Summit, Russian President Putin and Indian PM Modi discussed elevating their trade partnership to USD 100 billion by 2030. They explored economic cooperation, industrial collaboration, and increased B2B opportunities, alongside strategic projects in nuclear, mobility, and fertilizers.

On the eve of the 18th BRICS Summit, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi engaged in substantive bilateral talks aimed at strengthening economic ties. High on their agenda was the ambitious target of achieving USD 100 billion in bilateral trade by the year 2030, sources report.

Commerce and Industry Minister Piyush Goyal previously urged accelerated economic and industrial partnerships, challenging businesses in both nations to meet this USD 100 billion target. Goyal, alongside Russian Minister Anton Alikhanov at the INNOPROM India 2026 Co-Chair Plenary Session in New Delhi, stressed the need for vigorous efforts to boost trade from its current level of approximately USD 60 billion.

The fruitful discussions between Putin and Modi also encompassed enhancing civil nuclear cooperation and increasing skilled labor mobility, sources said. The success of INNOPROM in India, promoting expanded industrial cooperation, was also highlighted as a key topic. The Russian President's visit is anticipated to bolster the strategic partnership further, with new initiatives on trade and investment expected at the BRICS Business Forum Friday.