India-Russia trade at $66 bn in 2024; $100 bn target on track: Russia envoy

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India-Russia trade at $66 bn in 2024; $100 bn target on track: Russia envoy - Business Standard

Quick Summary:

A senior Russian diplomat on Wednesday said bilateral trade between the two countries has reached a record USD 66 billion in 2024, marking a fivefold increase over the past five years, with a 9 per cent rise in the first eight months of this year.

"The recent dialogues between leaders of both countries on the possibilities of diversifying the trade basket and increasing the volume of investments in multiple sectors make the target of USD 100 billion by 2030 an achievable one," said Maxim V.

The envoy said Russia and India are on track to achieve the ambitious USD 100 billion trade target by 2030, bolstered by expanding collaborations and diversified trade opportunities.