India, Russia-led EAEU may hold next round talks for trade pact in June

India and the Russia-led EAEU group are expected to hold next round talks for a proposed free trade agreement in June in Moscow, an official said. India and the five-nation grouping, the Eurasian Economic Union (EAEU), on August 20 last year inked the terms of reference for the agreement. The first round of negotiations was held in November 2025 here. ''For next round of talks, Indian team may visit in June. Issues related to non-trade measures are likely to figure in that meeting,'' the official said. The terms of reference signed on August 20, 2025, outline an 18-month work plan aimed at diversifying markets for Indian businesses, including MSMEs, farmers and fishermen. Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan are the five member countries of EAEU. The development is important as India is looking to diversify its export markets due to global economic uncertainties. Russia is the top trading partner of India in the bloc, with bilateral trade worth USD 68.72 billion in 2024-25 (exports USD 4.88 billion and imports USD 63.84 billion). The high import numbers are due to a jump in crude oil imports. The bilateral trade with Armenia, Belarus, Kazakhstan, and Kyrgyzstan was USD 315.18 million, USD 106.69 million, USD 349.48 million, and USD 56.78 million, respectively, in the last fiscal year. The official also said Oman team is likely to visit India next month to discuss issues related to implementation of the trade deal, which was signed in December last year.

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