Bilateral trade in goods between India and Russia has experienced a remarkable surge, increasing over five times, from USD 13 billion in 2021 to USD 68 billion in 2024-25, according to External Affairs Minister S. Jaishankar. Speaking at the 26th session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), Jaishankar pointed out the urgent need to address the growing trade imbalance, which has expanded from USD 6.6 billion to USD 58.9 billion. The IRIGC serves as a crucial mechanism in the preparations for the Annual Summit. The meeting reflects the close and frequent engagement between the leaders of both nations, particularly in the current complex geopolitical climate. Jaishankar’s visit to Russia includes co-chairing IRIGC-TEC, addressing the India-Russia Business Forum meeting in Moscow, and holding discussions with Russian Foreign Minister Sergey Lavrov. These interactions are designed to reinforce the long-standing strategic partnership between the two countries.
India and Russia’s Trade Soars, Jaishankar Calls for Action on Imbalance
By The Chhattisgarh1 Min Read