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India says economic cooperation with Russia has grown very significantly - Finance news and analysis from Global Banking & Finance Review
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India says economic cooperation with Russia has grown very significantly

Published by Global Banking & Finance Review

Posted on August 24, 2026

1 min read

· Last updated: August 24, 2026

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India Highlights Significant Growth in Economic Cooperation with Russia

India-Russia Economic Relations and Recent Developments

Significant Growth in Bilateral Economic Cooperation

NEW DELHI, Aug 24 (Reuters) - Indian Foreign Minister S. Jaishankar told Russian President Vladimir Putin on Monday that the economic cooperation between the two countries has grown very significantly.

High-Level Meetings and Discussions

Jaishankar met Putin during his visit to Moscow for a meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.

Reporting and Editorial Credits

(Reporting by Hritam Mukherjee; Editing by YP Rajesh)

Key Takeaways

  • Bilateral trade reached a record high of US $68.7 billion in FY 2024‑25, with imports from Russia dominating at US $63.8 billion and Indian exports just US $4.9 billion (indianembassy-moscow.gov.in)
  • India aims to boost bilateral trade to US $100 billion by 2030 and mutual investments to US $50 billion by 2025 under the Programme‑2030 (indianembassy-moscow.gov.in)
  • In early FY 2026‑27 (April–June 2026), India’s merchandise imports from Russia surged 52.6 %, reaching US $25.6 billion, underlining accelerated economic ties (theprint.in)

References

Frequently Asked Questions

Who discussed the growth in India-Russia economic cooperation?
Indian Foreign Minister S. Jaishankar discussed the growth with Russian President Vladimir Putin.
What was the occasion for Jaishankar's meeting with Putin?
Jaishankar met Putin during a visit for the India-Russia Inter-Governmental Commission meeting in Moscow.
How has economic cooperation between India and Russia changed?
Economic cooperation has grown very significantly, according to Indian Foreign Minister S. Jaishankar.
Where did the meeting between Jaishankar and Putin take place?
The meeting took place in Moscow, Russia.

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