India and Russia have set an ambitious target of achieving $100 billion in bilateral trade by 2030, with a particular focus on economic collaboration in sectors such as energy, trade, manufacturing and fertilizers. During Prime Minister Modi's recent visit to Moscow, both nations emphasized the need for increased supplies of goods from India to achieve balanced trade and reinvigorate investments under special investment regimes.

India’s bilateral trade with Russia has shown significant growth, standing at $65.6 billion in FY24, a 33% increase year-on-year, and nearly 5.5 times higher than the pre-pandemic trade of $10.1 billion. This upward trend has been especially pronounced since 2022.

Indian Chamber of Commerce (ICC) is leading a delegation to Moscow, Russia from 28 - 31 August 2024 to discuss various trade and business opportunities. The delegation will meet prominent businesses and government agencies in Moscow with support from the Indian Embassy in Russia and ICC’s partners in Russia.​