India-Russia Forge Stronger Trade Ties: Aiming for USD 100 Billion by 2030

India and Russia are targeting a bilateral trade goal of USD 100 billion by 2030. Sberbank is supporting this objective by providing resources for businesses to localize in each other's countries. Trade volume has reached USD 68.7 billion, with a significant focus on energy resources, indicating the need for diversification.

Devdiscourse News Desk | New Delhi | Updated: 03-09-2025 16:42 IST | Created: 03-09-2025 16:42 IST

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Country:
India

India and Russia have ambitious plans to elevate their bilateral trade relations, aiming for a USD 100 billion target by 2030. Sberbank is poised to play a pivotal role in achieving this objective, as stated by Alexander Vedyakhin, the bank's First Deputy Chairman of the Executive Board, on Wednesday.

To promote this expansive trade vision, Sberbank has rolled out a comprehensive guide for Indian entrepreneurs looking to establish a footprint in Russia. For Russian businesses, the bank consistently offers insights into the Indian market's potentials.

Having operated in India for 15 years, with branches in Delhi and Mumbai and an IT hub in Bengaluru, the bank has witnessed trade figures soar to a record high of USD 68.7 billion, dominated by energy resources. However, diversification remains crucial to reaching the desired trade target by the next decade.

(With inputs from agencies.)