Goyal calls for push to boost India-Russia trade to $100 billion by 2030

Union Commerce and Industry Minister Piyush Goyal on Thursday called for an accelerated India-Russia economic and industrial partnership, urging businesses from both countries to work towards achieving the target of USD 100 billion in bilateral trade and USD 50 billion in two-way investment by 2030.

Addressing the INNOPROM India 2026 Co-Chair Plenary Session with Russian Minister of Industry and Trade Anton Alikhanov in New Delhi, Goyal said the targets set by the two Heads of State would serve as a measure of the performance of both governments and businesses.

Goyal said raising bilateral trade from the current level of around USD 60 billion to USD 100 billion would require an additional USD 40 billion over the next four years, translating into sustained double-digit year-on-year growth.