India to Deepen Russia Ties, Boost Trade to $100B Under BRICS Chairmanship

External Affairs Minister S. Jaishankar stated India will work closely with Russia during its BRICS chairmanship to collectively tackle common challenges. He highlighted the expansion of bilateral engagement following President Putin's 2025 visit into new areas like mobility, health, and maritime cooperation. Jaishankar underlined the joint goal of increasing annual trade to $100 billion by 2030, requiring efforts like concluding a free trade agreement with the Eurasian Economic Union. He also emphasized deepening cultural connections and confidence that new Indian consulates in Russia will strengthen bilateral bonds.

Key Points: India, Russia to Strengthen Ties, Aim for $100B Trade: Jaishankar

  • Deepen strategic partnership
  • Target $100B trade by 2030
  • Pursue India-EAEU FTA
  • Expand cultural & people ties
  • Strengthen multipolar cooperation
3 min read

BRICS chair India to work closely with Russia to address shared challenges: EAM Jaishankar

EAM Jaishankar says India will work closely with Russia during its BRICS chair to address shared challenges and boost bilateral trade to $100 billion by 2030.

"India... looks forward to closely working with Russia to address shared challenges in a balanced and inclusive manner - EAM Jaishankar"

Moscow/New Delhi, March 23 External Affairs Minister Jaishankar on Monday said that, guided by its humanity first and people-centric approach during its ongoing BRICS chairship, India remains focused on deepening engagement with Russia to collectively address common challenges through a balanced and inclusive framework.

Addressing a conference titled 'India and Russia: Towards a new bilateral agenda' virtually, EAM Jaishankar reaffirmed New Delhi's unwavering commitment to its longstanding partnership with Moscow.

"India, during its BRICS chairmanship with a humanity-first and a people-centric approach, looks forward to closely working with Russia to address shared challenges in a balanced and inclusive manner... Let me reiterate our steadfast commitment to strengthening our long-standing partnership and cherished friendship," the EAM said during his address.

Recalling the last visit of Russian President Vladimir Putin to India in December 2025, he noted that it marked an expansion of bilateral engagement into several new and diverse areas.

"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, and academic and media cooperation," EAM Jaishankar said.

He further underlined that both India and Russia are committed to increasing the bilateral annual trade from the current $68.7 billion to $100 billion by 2030 in a balanced and sustainable manner. To achieve this, he said, both sides must continue efforts to conclude the India-Eurasian Economic Union (EAEU) Free Trade Agreement (FTA), address non-tariff barriers and regulatory impediments, and utilise a skilled Indian workforce.

Highlighting the deepening cultural and civilisational ties between India and Russia, EAM said, "Our people-to-people ties continue to grow based on a shared appreciation for art, yoga, Ayurveda, and culture."

He further noted that the exposition of sacred relics of Shakyamuni Buddha from India in Russia's Kalmykia last year is a testament to the close cultural connection between the two nations.

EAM Jaishankar expressed confidence that India's new consulates in Yekaterinburg and Kazan in Russia would further strengthen economic, cultural, and social bonds between both countries.

He also asserted that evolving multipolar order necessitates greater cooperation, including through platforms such as BRICS, SCO, G20, and the UN.

EAM Jaishankar lauded the efforts of the think tank Russian International Affairs Council and the Indian Embassy in Moscow for organising the second consecutive edition of this initiative.

He also extended his greetings to Russian Foreign Minister Sergei Lavrov. Emphasising that India and Russia share a special and privileged strategic partnership rooted in trust and mutual respect, EAM said, "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."

- IANS

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Reader Comments

P
Priya S
Good to see the focus on people-centric approach and increasing trade. The $100 billion target by 2030 is ambitious but achievable if we address the non-tariff barriers. More Indian professionals in Russia could be a win-win.
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Michael C
While I understand the historical ties, I hope this "balanced" approach is clearly communicated to our other global partners. The world is watching, and strategic ambiguity can sometimes create more challenges than it solves.
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Shreya B
The cultural connection mentioned, like the Buddha relics exhibition, is heartwarming. It's these deep civilizational links that form a strong foundation beyond just politics and trade. Jai Hind!
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Rohit P
Pragmatic and necessary. Russia has been a reliable partner for decades, especially in defence and energy. Deepening economic engagement through BRICS makes perfect sense for a multipolar world. Good move by EAM.
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Kavya N
I appreciate the focus on skilled mobility and FTAs. As a young professional, opportunities in new markets are exciting. Hope this translates into concrete job and collaboration prospects for Indians in the EAEU region.
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David E
The article is comprehensive, but I have a respectful criticism. While strengthening ties is good, the narrative should equally emphasize India's parallel and growing partnerships with

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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