New Delhi, Dec 04: India’s Commerce and Industry Minister Piyush Goyal emphasized the need to enhance exports to Russia to diversify and balance trade relations, highlighting the bilateral trade target of $100 billion by 2030.

Despite reaching $68.7 billion in FY25, Indian exports to Russia were under $5 billion, primarily due to high oil imports. Goyal identified sectors with substantial untapped opportunities for Indian exporters, including automobiles, electronics, and pharmaceuticals.

Russian officials noted India’s minimal share in imports, suggesting agriculture, telecom, and industrial goods as areas for export growth. The two nations are also discussing a free trade agreement with the Eurasian Economic Union to facilitate this diversification.

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