Key Highlights

• India and Russia adopt Programme 2030 economic roadmap

• Target of 100 billion dollars in annual trade by 2030

• Bilateral trade already at 68.7 billion dollars in FY25

• 85 percent trade now settled in rupee and ruble

• Strong focus on energy security defence manufacturing and critical minerals

• Northern Sea Route to cut logistics costs and delivery time

• Civil nuclear projects and skilled worker mobility get a major push

India Russia Programme 2030 Targets 100 Billion Dollar Trade and Major Strategic Shift

India and Russia have taken a major step in reshaping their economic relationship by launching Programme 2030, a long term strategic roadmap for trade and investment cooperation. The plan sets an ambitious target of reaching 100 billion dollars in annual bilateral trade by 2030, along with a mutual investment goal of 50 billion dollars by 2025.

This announcement comes at a time when India Russia trade has already touched 68.7 billion dollars in FY 2024–25, mainly driven by energy imports. Programme 2030 now aims to expand this relationship beyond oil and gas into manufacturing, technology, defence, logistics, and critical minerals.

Trade and Investment Push What It Means for India

The 100 billion dollar trade target changes the scale of India Russia commercial relations. While energy will continue to play a key role, the focus is now shifting to a wider group of sectors such as machinery, chemicals, fertilisers, pharmaceuticals, and industrial goods.

The 50 billion dollar mutual investment target signals deeper joint ventures in:

• Infrastructure and petrochemicals

• Defence manufacturing

• Manufacturing linked to technology and automation

For Indian companies, this creates long term visibility, stronger supply chains, and reduced risk from sudden global shocks.

Logistics Corridors and Easier Trade Routes

Programme 2030 also focuses strongly on improving logistics and reducing trade barriers. This includes:

• Simplifying tariffs and non tariff barriers

• Faster port clearances

• Better coordination across shipping routes

A key highlight is the Northern Sea Route, which connects India to Europe through Russia and can sharply reduce shipping time and freight costs. This will benefit exports of engineering goods, auto components, chemicals, and consumer products.

Currency Settlement Brings Stability

Nearly 85 percent of India Russia trade is now settled in rupees and rubles instead of dollars. This:

• Reduces exposure to global dollar volatility

• Protects companies from sanctions related risks

• Improves payment reliability for sectors like energy, metals, fertilisers, and pharma

Plans to link national payment systems will further improve speed and safety of transactions.

Energy Security and Nuclear Cooperation

Energy remains the backbone of the partnership. Russia has assured steady supplies of oil, gas, and coal to India. This supports:

• Lower input costs for Indian refiners

• More stable fuel prices at home

Civil nuclear cooperation is also set for major expansion with:

• New units planned at the Kudankulam nuclear site

• Talks for a second nuclear power location in India

This strengthens India’s long term clean energy and power security plans.

Defence Technology and Industrial Cooperation

Programme 2030 deeply supports Make in India goals in defence. Key focus areas include:

• Joint production of defence components and engines

• Aerospace and missile systems

• Armoured vehicles and maintenance services

Other industrial collaborations include:

• Joint fertiliser production to secure food supply

• New Indian pharma manufacturing plant in Russia

• Space technology partnerships including satellite and deep space projects

These steps reduce import dependence and create new export markets.

Critical Minerals A Strategic Advantage

India and Russia will work closely on critical minerals and rare earths needed for:

• EV batteries

• Semiconductors

• Renewable energy equipment

• Advanced electronics

Russia brings strong mineral reserves, while India offers processing and manufacturing strength. This gives Indian industries a more secure raw material supply base.

Mobility Tourism and Skilled Workforce

The agreement also promotes smoother movement of skilled professionals. A mobility pact and a 30 day free e tourist visa for Russians will boost:

• Business travel

• IT and consulting services

• Energy and manufacturing services

This helps deepen people to people and business to business ties.

Final Word

Programme 2030 is a powerful economic reset for India Russia relations. It goes far beyond energy trade and touches defence, logistics, nuclear power, technology, minerals, and currency systems.

For investors and industries, this roadmap offers long term clarity, better supply security, and strong opportunities across manufacturing and infrastructure. If delivered on schedule, the partnership will shift from being energy driven to a more balanced, industrial and technology focused alliance that supports India’s growth goals through 2030.