India, Russia commit to $100bn trade by 2030: Indian Minister Jaishankar
KATHMANDU: India's External Affairs Minister S Jaishankar on Monday hailed longstanding ties between New Delhi and Moscow. He said the countries were committed to growing bilateral trade to $100 billion by 2030, ANI reported.
He made the remarks while virtually addressing the conference 'India and Russia: Towards a new bilateral agenda'. Jaishankar lauded the efforts of the Russian International Affairs Council and the Indian Embassy in Moscow for organising the second consecutive edition of the initiative.
He said, "Both sides are committed to increasing the present annual trade from $68.7 billion to $100 billion by 2030 in a balanced and sustainable manner." In this regard he said efforts were under way to address non‑tariff barriers and regulatory impediments.
Highlighting the strategic relationship, he said that in present‑day global politics India‑Russia engagements had, over the years, advanced regional and global peace. He added, "India and Russia share a special and privileged strategic partnership rooted in trust and mutual respect. Over decades, our mutually beneficial cooperation has advanced regional and global peace, stability and progress. In today's evolving geopolitical dynamics, our engagement continues to deepen, driven by frequent high‑level exchanges."
Jaishankar noted, "The last visit of President Putin to India in December 2025 broke new ground, covering diverse and novel areas including mobility of skilled professionals, health and food safety, maritime cooperation, fertilisers, customs and commerce, academic and media cooperation."
Noting Russia's partnership in India's civil nuclear energy sector, he said, "Russia is our foremost partner in civil nuclear energy and the Kudankulam nuclear project is a stellar example. As India aims to increase its nuclear energy generation capacity to 100 gigawatt by 2047, I am confident that it will find a trusted and reliable partner in Russia for peaceful uses of nuclear energy."
Jaishankar also recalled the depth of people‑to‑people ties based on a shared appreciation for art, yoga, Ayurveda and culture, and expressed confidence that the new consulates in Kazan and Ekaterinburg would further strengthen economic, cultural and social bonds.
Moscow is hosting the second international conference, "Russia and India: Towards a New Agenda for Bilateral Relations", on March 23, bringing together senior diplomats, policymakers and experts from both countries to strengthen strategic cooperation. Organised by the Russian International Affairs Council and the Embassy of India in Russia, the conference will focus on the role of Russia and India in shaping a multipolar world, engagement with third countries and expanding economic cooperation, as reported by TV BRICS.
With India as BRICS chair this year, Jaishankar emphasised that the evolving multipolar order necessitated greater cooperation through BRICS, the SCO, the G20 and the UN, and said India's chairmanship would pursue a humanity‑first, people‑centric approach while working closely with Russia to address shared challenges in a balanced and inclusive manner.
