Prime Minister Narendra Modi stated on Friday that India and Russia are poised to reach their bilateral trade goal of $100 billion well ahead of the originally planned 2030 timeline. Speaking at the India–Russia Business Forum in New Delhi, Modi recalled the commitment he and Russian President Vladimir Putin made last year to scale up trade. After renewed discussions during their latest meeting, Modi said he is confident the milestone will be met sooner than expected. He added that both countries are actively working to lower tariff and non-tariff barriers to further accelerate growth in trade and investment.
President Putin, who is visiting India for high-level talks, highlighted the strong and long-standing economic partnership between the two nations. Addressing the forum, he noted that bilateral trade has expanded dramatically over the past three years, rising nearly 80%, and reached $64 billion in the previous year alone. Putin praised India’s “independent and sovereign policy” under Modi’s leadership and said both countries possess large consumer markets that offer significant opportunities for future collaboration. He emphasized that India and Russia share a stable, mutually respectful relationship that continues to gain momentum.
As part of the day’s developments, Gazprom Media, Russia’s largest media conglomerate, and Prasar Bharati, India’s public broadcasting corporation, signed a memorandum of understanding aimed at strengthening cooperation in the broadcasting sector. The agreement, signed by Gazprom Media CEO Alexander Zharov and Prasar Bharati CEO Gaurav Dwivedi, is expected to promote content exchange, technological collaboration, and broader cultural engagement.
During their bilateral summit, Modi and Putin also finalized a five-year roadmap designed to deepen economic and trade partnerships, particularly in an environment shaped by global sanctions and shifting geopolitical dynamics. The two leaders reaffirmed their commitment to sustaining a relationship spanning more than eight decades, with a renewed focus on expanding ties in health, mobility, education, and people-to-people exchange.
Amid the discussions, Modi reiterated India’s position on the war in Ukraine, stressing that the conflict must be resolved through peaceful dialogue. He conveyed to President Putin that lasting peace is essential and that diplomacy remains the only viable path forward.
Both countries expressed optimism about the future of their strategic partnership, noting that the latest agreements and economic initiatives will help inject fresh energy into bilateral relations and drive sustained growth in the years ahead.
