India-Russia trade grew by 20 per cent this year: Russian State Duma Chairman

Trade between India and Russia has grown by more than 20% this year, Russian State Duma Chairman Vyacheslav Volodin said during his meeting with Lok Sabha Speaker in Delhi on Sunday, as he called for the removal of trade barriers and the expansion of joint business ventures.

Volodin met the speaker of the Lok Sabha, Om Birla, ahead of the 12th BRICS Parliamentary Forum, on October 26-27. The discussions covered closer cooperation on trade, industry and agriculture, along with the strengthening of parliamentary ties.

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Bilateral commerce reached $47.7 billion in the first seven months of 2026, up 24.3% from a year earlier, according to data from the Commerce Ministry, cited by Russian lender Sberbank.

India imported $44.9 billion of Russian goods during the period, including $36 billion in crude oil. Indian exports to Russia totaled $2.8 billion, with Moscow increasing purchases of chemicals, electrical goods, medical equipment, seafood, tea, and spices.

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Volodin credited Russian President Vladimir Putin and Indian Prime Minister Narendra Modi with advancing bilateral ties. Lawmakers should “provide legislative support for all decisions made at the level of heads of state,” according to Volodin.