FAST READ
- India and Russia are working toward $100 billion bilateral trade by 2030.
- A parallel target of $50 billion in two-way investment by 2030 was highlighted.
- India seeks greater exports in pharmaceuticals, auto components and food products.
WHY IN NEWS
- At INNOPROM India 2026, India called for accelerated industrial and commercial cooperation with Russia.
- The key policy challenge is to expand trade while correcting a large structural imbalance.
TOP DATA & FACTS
- Bilateral trade target: $100 billion by 2030.
- Two-way investment target: $50 billion by 2030.
- India highlighted pharmaceuticals as an export opportunity.
- Auto components were also identified.
- Food products were highlighted as another expansion area.
- Industrial corridors were presented as plug-and-play manufacturing opportunities.
- Energy remains an important pillar of India-Russia economic ties.
- Payment and logistics arrangements affect bilateral commerce.
- Trade diversification can reduce concentration risk.
- Sanctions exposure and geopolitical uncertainty complicate finance and shipping.
PRELIMS
- India-Russia ties are described as a Special and Privileged Strategic Partnership.
- INNOPROM is an industrial exhibition/platform with Russian origins.
- Trade turnover and trade balance are different concepts.
QUICK REVISION
- Bilateral trade target: $100 billion by 2030.
- Two-way investment target: $50 billion by 2030.
- India-Russia ties are described as a Special and Privileged Strategic Partnership.
PROBABLE OBJECTIVE QUESTION
With reference to the above topic, consider the following statements:
- India and Russia have highlighted a $100 billion bilateral trade target for 2030.
- A rise in total trade automatically guarantees balanced trade.
- Pharmaceuticals and auto components are among sectors identified for Indian exports. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer:
(c) 1 and 3 only
Explanation: Statements 1 and 3 are correct. Statement 2 is incorrect because trade can grow while remaining highly imbalanced. Ask CurrentPulse AI - Prelims India-Russia Economic Partnership: Trade Imbalance, Investment and the $100 Billion Target International Relations, Economy GS II / GS III 10 Sep 2026 Read highlighted facts first