PM Modi, Putin Push $100 Billion Trade Target by 2030
Prime Minister Narendra Modi and Russian President Vladimir Putin have directed their governments to expand bilateral cooperation as India and Russia pursue a $100 billion trade target by 2030. Indian Ambassador to Russia Vinay Kumar confirmed the development on Saturday, October 24, 2026, highlighting plans to strengthen commercial relations, increase mutual investment and expand opportunities for Indian skilled workers in Russia.
Modi and Putin Target $100 Billion India-Russia Trade
Ambassador Vinay Kumar said the two leaders reviewed bilateral relations during the BRICS Summit in New Delhi on September 12–13.
Both leaders instructed their respective ministries and government agencies to identify opportunities for deeper economic and commercial cooperation.
India and Russia are targeting $100 billion in annual bilateral trade and $50 billion in two-way investment by 2030.
The ambassador also highlighted the leaders’ participation in the BRICS Business Summit and their visit to Innoprom-India, the first Russian industrial exhibition held in New Delhi.
Russia Seeks More Skilled Workers From India
Kumar said India was prepared to supply skilled professionals according to the requirements of Russian industries.
Indian workers currently account for approximately 25–30% of Russia’s quota for foreign workers, according to the ambassador.
He highlighted India’s young workforce, with an average age of 29, as an important advantage in meeting international labour requirements.
India Proposes Joint Training Institutions With Russia
India has proposed that Russia establish educational and vocational training institutions in India or collaborate with existing institutions.
These partnerships would help train workers for specialised roles required by Russian businesses while creating additional international employment opportunities.
Kumar emphasised that India was developing skilled personnel for both domestic industries and overseas markets.
The initiatives form part of broader efforts to strengthen India-Russia economic relations beyond their established energy and defence partnerships.
