Union Minister of Commerce and Industry Shri Piyush Goyal Calls for Accelerating India-Russia Economic Partnership to Achieve $100 Billion Bilateral Trade by 2030

Union Minister of Commerce and Industry Shri Piyush Goyal addressed the INNOPROM India 2026 Co-Chair Plenary Session in New Delhi, alongside Russian Minister of Industry and Trade Mr. Anton Alikhanov. He called for accelerating the India-Russia economic partnership to achieve $100 billion in bilateral trade and $50 billion in two-way investment by 2030. Highlighting the growth in non-energy trade, the Minister emphasized expanding Indian exports in sectors such as pharmaceuticals, auto components, food products, and engineering goods. Both nations are currently fast-tracking a bilateral investment treaty, progressing on free trade negotiations with the Eurasian Economic Union, and strengthening local currency settlement mechanisms and transport corridors like the International North-South Transport Corridor.