Russian President Putin meets PM Narendra Modi, expanding trade to $100 billion by 2030 on agenda

According to sources, among the likely points for discussion are the achievement of an ambitious bilateral trade target. The two countries have aimed to target a bilateral trade of USD 100 billion by 2030.

Earlier, Commerce and Industry Minister Piyush Goyal had called for an accelerated India-Russia economic and industrial partnership, urging businesses from both countries to work towards achieving the USD 100 billion target in bilateral trade by 2030.

Addressing the INNOPROM India 2026 Co-Chair Plenary Session alongside Russian Minister of Industry and Trade Anton Alikhanov in New Delhi, Goyal said increasing bilateral trade from the current level of around $60 billion to $100 billion would require adding nearly $40 billion over the next four years and sustaining double-digit annual growth.

Sources said the success of INNOPROM in India is also on the agenda of the discussion between Russian President and PM Modi . Bringing INNOPROM to India has paved the way for expanding Industrial cooperation with Russia, more collaboration in the rail sector and tunneling, developing steel value chain, creating more B2B opportunities and broadening access to the Russian market

INNOPROM-The International Industrial Exhibition is a global platform that brings together manufacturers and buyers from around the world. It provides an opportunity to showcase cutting-edge technologies, access the international market, and serves as an effective B2B platform for productive networking.

Sources added that the two leaders will delve on strengthening civil nuclear cooperation including fuel cycle and life cycle support, increasing cooperation in mobility, increasing Indian skilled labour to Russia, cooperation in Critical Minerals and sustaining and increasing cooperation in fertilizers through strategic JV projectsThe Russian President's visit is expected to add further momentum to the India-Russia strategic partnership. According to Russia's state-run TASS news agency, Putin will present initiatives on trade, economic, investment and transport cooperation during his participation in the BRICS Business Forum later on Friday. (ANI)