India and Russia Aim for $100 Billion in Trade by 2030

Prime Minister Narendra Modi and Russian President Vladimir Putin have told their governments to expand ties and push bilateral trade to $100 billion by the year 2030. Indian Ambassador Vinay Kumar shared these details in an interview published on October 24, 2026.

Cooperation

The two leaders met on the sidelines of the BRICS summit in New Delhi on September 12 and 13. During their talks, they discussed all aspects of bilateral relations. Their joint actions included participating in the BRICS business summit and visiting the Innoprom-India exhibition, which was the first Russian industrial exhibition held in New Delhi. They directed their ministries and agencies to build on this work.

Trade And Labor

Apart from the $100 billion trade goal, India and Russia are working toward two-way investment of $50 billion by 2030. On labor cooperation, Ambassador Kumar stated that India aims to supply Russia with skilled workers based on its needs. Indians currently make up about 25 to 30 percent of Russia's quota for foreign workers. To support this, India has proposed that Russia set up educational institutions in India or partner with existing local ones to train workers for Russian industries.

Context

Bilateral trade targets and labor agreements are common tools nations use to deepen economic and diplomatic ties over long periods. India's young workforce and large population often position it as a major global source of skilled personnel for international markets.