India-Russia trade is undergoing a major structural reset, transitioning from a relationship dominated by energy and defense into a diversified economic partnership. President Vladimir Putin and Prime Minister Narendra Modi formalized a blueprint for long-term economic integration with targets to reach US$100 billion by 2030. Explore the Russia-India business corridor. Find analysis on bilateral trade, strategic joint ventures, and investment opportunities. Key intelligence for companies in this growing partnership.
India is looking to import more coking coal and nickel from Russia to super-charge its steel production in order to boost the output of electric vehicles in the country. India plans to increase 2-3 wheeler EV use to 80% from the current 9% by 2030.
India has proposed collaborating with Russia in the Quantum computing area to help it meet its National Quantum Mission goals. Russia already collaborates with China in this area, with all three players set to become global leaders.
The Bangladesh and Russian Foreign Ministers have been meeting in Moscow. We provide an extensive analysis of what was discussed, including full trade details and likely bilateral developments.
Russia’s Sberbank has plans to open ten branches throughout India to service Russian and Indian clients looking to conduct business in their respective countries. Bilateral trade hit nearly US$70 billion in 2025 and the financial architecture to facilitate and increase this is now being put into place. Most of this trade is in rupees and rubles and avoids SWIFT.
One of India’s largest pharmaceutical companies, Hetero Labs, is investing in a pharma manufacturing plant at the Technopolis Special Economic Zone near Moscow. The company manufacture drugs to deal with treatments of hepatitis, cancer, and tuberculosis.
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Russia’s exports of sunflower oil, a key ingredient in Indian cuisine, has risen by 43% in 4M 2026 and means that Russia now provides 50% of India’s domestic needs. This is an excellent example of mutual BRICS trade.
Russia and India are negotiating a potential agreement for India to manufacture the Ilyushin 114-300 turboprop and the SJ-100 superjet under licence from Russia, in India, using both Russian and Indian parts. It could involve up to 200 aircraft.
India has agreed to sell the Russian Joint Venture, India manufactured Brahmos missiles to Vietnam in a US$600 million plus agreement, with similar deals also lined up with Indonesia.
Russia and India have signed important rare earth development agreements at the RedMet 2026 congress in Moscow. These focus on the development of rare earth magnets, a crucial part of the global new-tech industry with applications in computing, smart phones, electric batteries and beyond. Both Russia and India have significant rare earth reserves, as does China, Kazakhstan, Vietnam and Brazil.
The BRICS Foreign Ministers have been meeting in New Delhi in arguably a more important event than Trump’s visit to China. We explore how Russia and India are remapping the Global South and are creating new energy supply chains, security alliances and trade corridors in mechanisms that will reshape international trade.
Russia’s President Putin gave a detailed speech on May 9 (Victory Day) in which he discussed his thoughts and Russia’s strategy as concerns its immediate direction towards the Global South. He commented specifically about Central Asia, the Middle East, South Asia and China as well as Europe, and how he sees global developments pan out. This article will be of interest to all Russia-watchers, geostrategic analysts as well as politicians in the West and Global South.
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