India, Russia Expand Economic Cooperation To Meet USD 100 Billion Trade Goal

New Delhi, Aug 6 (KNN) India and Russia are working towards achieving the bilateral trade target of USD 100 billion by 2030, with both countries focusing on expanding cooperation in new sectors while strengthening existing trade ties, India's Ambassador to Russia Vinay Kumar said.

India, Russia Target USD 100 Billion Bilateral Trade By 2030

Speaking on Wednesday, Kumar said the trade target was set by Prime Minister Narendra Modi and Russian President Vladimir Putin, with efforts underway to increase the volume of trade and identify new areas of collaboration.

"Trade is growing. We have a target set by the Prime Minister of India and the President of the Russian Federation to reach USD 100 billion by 2030," he said.

Energy Cooperation Remains Key Pillar Of Partnership

The Ambassador said energy cooperation continues to be a key pillar of the India-Russia strategic partnership, highlighting progress in the Kudankulam Nuclear Power Project in Tamil Nadu, reported ANI.

He said Russia's state nuclear corporation Rosatom has made significant progress in the construction of Units 3 and 4 of the nuclear power plant.

Indian Workforce In Russia Crosses 100,000

Kumar also pointed to growing employment opportunities for skilled Indian professionals in Russia, estimating that the number of Indian workers in the country has increased from around 10,000-15,000 two to three years ago to more than 100,000 at present.

Bilateral Commission To Review Trade Progress

He said the next meeting of the India-Russia Intergovernmental Commission for Trade, Economic, Scientific, Technological and Cultural Cooperation will be held later this year to review progress, set new targets and further strengthen bilateral economic engagement.

The remarks come ahead of the 18th BRICS Summit, which India, as the 2026 Chair, will host in New Delhi on September 12-13.

(KNN Bureau)