New Delhi () – Commerce Secretary Rajesh Agrawal met in Moscow with Russian leaders to push forward plans for a free‑trade agreement between India and the Eurasian Economic Union (EAEU).
Agrawal sat down with Andrey Slepnev, Russia’s Trade Minister, and Mikhail Yurin, the Deputy Minister of Industry and Trade. He also spoke to a group of Indian and Russian business leaders in a networking session. The talks followed the India‑Russia Working Group on Trade and aim to boost trade and investment.
The main goal is to hit $100 billion in bilateral trade by 2030. Part of that target is to broaden India’s export markets and create jobs through industrial and tech cooperation.
During the meeting with Slepnev, the Secretary highlighted the next steps for the India‑EAEU free‑trade agreement on goods. An 18‑month work plan was signed on 20 August 2025. The plan focuses on helping Indian businesses—including MSMEs, farmers and fishermen—enter new markets. Services and investment will be added to the agenda as the process moves forward.
Agrawal also discussed diversification and supply‑chain resilience with Yurin. The pair looked at cooperation in key sectors such as pharmaceuticals, telecom equipment, machinery, leather, automotives and chemicals. They agreed on quarterly regulator‑to‑regulator meetings to clear up certification hurdles, tackle monopolies and remove non‑tariff barriers. Logistics, payment systems and standards will also be addressed to make doing business easier on both sides.
At the business plenary, the Secretary urged companies to plan projects that help meet the 2030 trade target. He highlighted India’s upgrades in logistics, digital infrastructure and co‑investment opportunities. The emphasis is on expanding the export basket, reducing supply‑chain risks and turning plans into real contracts that add value, boost volume, and create jobs.
India is positioning itself as a trusted trade partner for both developing and developed economies while working toward becoming a developed nation, Viksit Bharat, by 2047. The partnership with Russia is a key part of that journey.
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