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India-Russia Set $100 Billion Trade Target by 2030; Jaishankar Meets Putin on Energy, Fertilisers, High-Tech

Target:UPSC GS-IIMPSCSSC GATeachingPrelims HighMains MediumStatic GK Link
24 Aug 2026
~2 min
Source: Indian Express
Key Data:$100 billion by 2030$68.7 billion (FY 2024-25)$59.863 billion (FY 2025-26)SCO Summit: Aug 31-Sep 1BRICS Summit: Sep 12-1327th IRIGC-TEC
Bodies:Ministry of External AffairsIRIGCSCOBRICS
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What This Article Covers

1.EAM Jaishankar met President Putin in Moscow, focusing on trade, energy, fertilisers, nuclear energy, and high-tech cooperation.

2.PM Modi and Putin are scheduled to meet at the SCO summit in Kyrgyzstan (Aug 31-Sep 1) and BRICS summit in New Delhi (Sep 12-13).

3.Bilateral trade target of $100 billion by 2030, with trade at $68.7 billion in FY2024-25 and $59.863 billion in FY2025-26.

The Big Picture
Prelims · HighMains · Medium

Ahead of the SCO and BRICS summits, EAM Jaishankar meets Putin to deepen bilateral ties in energy, fertilisers, and high-tech. India-Russia set a $100 billion trade target by 2030, with trade reaching a record $68.7 billion in FY2024-25. This is critical for India's energy security, fertiliser imports, and strategic autonomy.

Exam Lens

Quick Exam Facts From News

Bilateral Trade Target$100 billion by 2030
FY2024-25 Trade$68.7 billion (record high)
FY2025-26 Trade$59.863 billion
SCO SummitKyrgyzstan, Aug 31-Sep 1
BRICS SummitNew Delhi, Sep 12-13
IRIGC-TEC27th session co-chaired by Jaishankar and Manturov

1-Minute Revision

  • ›Bilateral Trade Target: $100 billion by 2030
  • ›FY2024-25 Trade: $68.7 billion (record high)
  • ›Target this Data: $100 billion bilateral trade target by 2030; $68.7 billion in FY2024-25; $59.863 billion in FY2025-26
  • ›Target this Nodal Body: Ministry of External Affairs (India) and the IRIGC framework
  • ›Target this Legal Point: Not applicable (but institutional mechanism: IRIGC-TEC)

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Q1Static LinkageEasy

Which ministry is primarily responsible for coordinating India's foreign policy and diplomatic engagements?

Q2Statement-basedHard

Consider the following statements:

1. India and Russia have set a bilateral trade target of $100 billion by 2030.

2. India's bilateral trade with Russia in FY 2024-25 was $59.863 billion.

3. Jaishankar co-chaired the 27th session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC).

Which of the statements given above is/are correct?

Q3Data-centricMedium

What was the record high bilateral trade between India and Russia in the financial year 2024-25?

Q4Application/ImpactMedium

Why is the focus on fertiliser supplies in the India-Russia meeting significant for India?

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