India-Russia Relation / India-Russia friendship gets stronger, bilateral trade increases five times in 5 years

India-Russia Relation: The bond of friendship between India and Russia is getting stronger with time. In the last few years, the relations between the two countries show unprecedented growth not only at the diplomatic level, but also in the economic sphere. The latest example of this is this year's figures, which show that bilateral trade between India and Russia has reached $66 billion in 2024—a five-fold increase in the last 5 years. This growing trade partnership testifies to the deep cooperation and mutual trust between the two countries.

Grand Goal: $100 Billion Trade by 2030

Russian Consul General Maxim V. Kozlov told a dialogue session with the members of the Bharat Chamber of Commerce (BCC) in Kolkata that both the countries are working towards achieving the trade target of $100 billion by 2030. This goal is an ambitious plan, which can be realized by expanding in diverse areas of trade and investment. Kozlov said, "India and Russia are not just strategic partners, but we are all-weather friends to each other. Our relations are based on mutual trust and shared interests, which makes their growth natural and long-term."

Key areas of expanded cooperation

Kozlov mentioned various sectoral investment opportunities and said that several key areas have been identified to enhance cooperation between the two countries. These include railways, pharmaceuticals, information technology (IT), aviation and cyber security. These areas not only advance traditional trade but also point to a prosperous future through new technologies and innovations.

Emerging opportunities: especially after the return of Western brands

After the recent return of Western brands in Russia, new opportunities have emerged for Indian industries. Indian companies can find an increased market for their products and services in Russia. Kozlov emphasized that cooperation in artificial intelligence (AI), robotics, urban development and key metals such as lithium, cobalt and nickel can bring extensive benefits to both countries. These industries are crucial for the next generation of development and promoting investments in them will be a visionary move.

Innovation and future direction

A special feature of the growing relationship between India and Russia is that it is not limited to just traditional trade relations. Both countries have also discovered new dimensions of cooperation in emerging technologies such as AI and robotics. This indicates that both countries are ready to solve future economic challenges together. Also, cooperation in sensitive areas like cyber security between them is also the beginning of a new era.

Conclusion

The relationship between India and Russia is much more than just a business partnership. It is an example of a lasting friendship, which is moving towards touching new heights with time. The growing trade, increasing investment and partnership in new technologies between the two countries makes it clear that their cooperation can become even more extensive and impressive in the years to come. Achieving the trade target of $ 100 billion by 2030 will be a big step, which will write a new history of economic and strategic partnership between the two countries.