India-Russia committed to increase trade to $100 billion: Jaishankar hails Special and Privileged Strategic Partnership

NEW DELHI: External Affairs Minister S Jaishankar on Monday hailed the longstanding ties between New Delhi and Moscow and said that the countries are committed to growing their bilateral trade to USD 100 billion by 2030.  He made the remarks while virtually addressing the ‘India and Russia: Towards a new bilateral agenda’ conference.

The EAM lauded the efforts of the Russian International Affairs Council and the Indian Embassy in Moscow for the second consecutive edition of this initiative. In his remarks he said, “Both sides are committed to increasing the present annual trade from $$68.7 billion to $$100 billion by 2030 in a balanced and sustainable manner”. In this regard he said that efforts are underway to address non-tariff barriers and regulatory impediments.

Highlighting the relationship, he said that in the present-day global politics, the India-Russia engagements have, over the years, advanced regional and global peace.

’Emerging Multipolar World Order Necessitates Greater - Cooperation’ Through Platforms Such As BRICS, SCO, UN – EAM Jaishankar https://t.co/zmjpccFzyD pic.twitter.com/TJOQpSYqyX

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“India and Russia, share a special and privileged strategic partnership rooted in trust and mutual respect. Over decades, our mutually beneficial cooperation has advanced regional and global peace, stability and progress. In today’s evolving geopolitical dynamics, our engagement continues to deepen, driven by frequent high-level exchanges. The last visit of President Putin to India in December 2025 broke new ground covering diverse and novel areas including mobility of skilled professionals, health and food safety, maritime cooperation, fertilizers, customs and commerce, academic and media cooperation”, Jaishankar added.

Noting Russia’s partnership in India’s civil nuclear energy sector, he added., “Russia is our foremost partner in civil nuclear energy and the Kudankulam nuclear project is a stellar example. As India aims to increase its nuclear energy generation capacity to 100 gigawatt by 2047, I am confident that it will find a trusted and reliable partner in Russia for peaceful uses of nuclear energy.”

Jaishankar also recalled the depth of people-to-people ties based on a shared appreciation for our art, Yoga, Ayurveda and Culture and expressed confidence that the new consulates in Kazan and Ekaterinburg will further strengthen the economic, cultural and social bonds.

With India as the BRICS chairperson this year, he emphasised how the evolving multipolar order necessitates greater cooperation including through BRICS, SCO, G20 and the UN and said that India’s chairmanship of BRICS would see a humanity first and a people-centric approach, that looks forward to closely working with Russia to address shared challenges in a balanced and inclusive manner.

Moscow is hosting the second international conference, “Russia and India: Towards a New Agenda for Bilateral Relations,” on March 23, bringing together senior diplomats, policymakers and experts from both countries to strengthen strategic cooperation.

Organised by the Russian International Affairs Council and the Embassy of India in Russia, the conference will focus on key thematic areas including the role of Russia and India in shaping a multipolar world, engagement with third countries and expanding economic cooperation, as reported by TV BRICS. (ANI)