India and Russia are creating a framework to boost bilateral trade to $100 billion by 2030: Envoy

India and Russia are creating a framework to boost bilateral trade to $100 billion by 2030, India's ambassador to Moscow has said.

Trade between the two countries has increased more than six-fold in the past two years, exceeding $65 billion in 2024, according to official estimates.

“We just agreed between the two countries a strategic economic plan for 2030,” India’s ambassador to Russia, Vinay Kumar, said at the XVI Russian-Indian Business Dialogue in Moscow on Tuesday.


The strategic plan is detailed enough to “identify the various sectors we need to work and also mention the institutions and the agencies which have to deliver on that and also do the monitoring,” Kumar added.

Top officials at this week’s business dialogue in Moscow said Russia is keen to expand and diversify trade with India, which is now dominated by energy and defense.

Sergey Cheryomin, head of the Department of Foreign Economic and International Relations of the City of Moscow, referred to India’s Smart City program as a potential avenue for cooperation.

“Moscow can offer unique digital solutions related to video analytics and big data processing, creating a high end and one of the best video surveillance systems in the world,” he said.