India and Russia are working to expand trade, investment and labour cooperation, with Prime Minister Narendra Modi and President Vladimir Putin targeting $100 billion in bilateral trade by 2030.
Prime Minister Narendra Modi and Russian President Vladimir Putin have called for stronger bilateral cooperation as India and Russia work towards achieving $100 billion in bilateral trade by 2030. Indian Ambassador to Russia Vinay Kumar said the two countries are also pursuing a target of $50 billion in two-way investment over the same period.
In an interview with Russian news agency TASS published on Saturday, Kumar said the leaders had discussed a broad range of bilateral issues on the sidelines of the BRICS summit held in New Delhi on September 12–13.
The discussions highlighted the importance of expanding economic engagement and strengthening cooperation across trade, investment, industrial development and workforce mobility.
According to Kumar, the two leaders directed their respective ministries and government agencies to identify opportunities to deepen cooperation across several sectors, including trade and commerce.
The leaders' participation in the BRICS business summit was among the key outcomes of their engagement. Kumar also highlighted their visit to the Innoprom-India exhibition, described as the first Russian industrial exhibition held in New Delhi.
These engagements provided opportunities to promote industrial collaboration and encourage closer business ties between the two countries.
The broader objective is to translate political engagement into practical economic cooperation, with government agencies expected to support efforts to expand commercial links and investment flows.
India and Russia are continuing efforts to increase bilateral trade to $100 billion by 2030. They are also working towards achieving $50 billion in two-way investment during the same period.
The targets reflect the ambition to expand economic relations beyond existing areas of cooperation and encourage greater participation by businesses from both countries.
Achieving these goals will require sustained engagement between governments, companies and industry organisations. Greater industrial cooperation, new commercial opportunities and stronger investment links could support the expansion of bilateral economic activity.
Kumar said the two countries remained committed to working towards these targets, with trade and commerce forming an important part of the wider relationship.
Alongside trade and investment, India and Russia are exploring ways to strengthen cooperation in the labour sector.
Kumar said India was prepared to supply skilled workers according to Russia's requirements. He noted that Indian workers accounted for approximately 25% to 30% of Russia's quota for foreign workers.
The discussion reflects the potential for India to contribute skilled personnel to industries facing workforce requirements in Russia.
However, the scale and composition of future labour cooperation would depend on Russian demand, relevant regulations and the availability of appropriately trained workers.
Kumar pointed to India's large population and relatively young workforce as important advantages in meeting domestic and international employment needs.
With a population approaching 1.5 billion, India has a substantial pool of working-age people. According to the ambassador, the average age of India's workforce is around 29 years, while workers account for approximately 69% of the population.
India trains professionals for employment within the country as well as for opportunities overseas. This workforce development capacity could support cooperation with Russia, provided that training programmes align with the skills required by employers.
The ambassador's remarks underline the potential role of skilled migration in complementing the two countries' broader economic relationship.
India has proposed that Russia consider establishing educational institutions in India or partnering with existing Indian institutions to train workers for Russian industries.
Such arrangements could help align vocational education and professional training with specific industry requirements. They may also provide a structured approach to preparing Indian workers for employment opportunities in Russia.
Collaboration between educational institutions could support skills development, strengthen industry-academia links and improve coordination between employers and training providers.
The proposal also highlights how workforce cooperation could extend beyond recruitment to include long-term investment in education and professional development.
The latest discussions indicate that India and Russia are seeking to strengthen their relationship through a combination of trade, investment, industrial collaboration and labour mobility.
The $100 billion trade target and $50 billion investment goal provide a framework for future economic engagement. Meanwhile, proposals involving skilled workers and educational partnerships could open additional avenues for cooperation.
Achieving these objectives will depend on how effectively both governments and businesses turn policy discussions into concrete projects and commercial arrangements.
India and Russia are seeking to deepen bilateral ties as they work towards ambitious trade and investment targets for 2030. The focus on industrial cooperation, skilled labour and educational partnerships adds further dimensions to the relationship. Continued coordination between the two governments will be important in converting these plans into measurable economic outcomes.