New Delhi, Dec 5:Describing India as an emerging global hub of skilled talent with the capacity to serve worldwide needs, Prime Minister Narendra Modi on Friday said that India and Russia are stepping together into a new era of innovation, joint production, and co-creation.
Modi expressed strong optimism that the India–Russia bilateral trade goal of USD 100 billion will be achieved well before the 2030 deadline.
Speaking at the India–Russia Business Forum alongside Russian President Vladimir Putin, the Prime Minister encouraged Russian companies to“come, Make in India, and partner with India.”
He recalled that the two leaders had set the USD 100-billion trade target only last year.
“After further discussions with President Putin and considering the enormous potential in our partnership, I am confident we will reach this milestone ahead of time. We are moving rapidly toward this objective,” Modi said.
He added that India is putting in place simpler, more predictable business processes, and that talks have begun on a Free Trade Agreement between India and the Eurasian Economic Union.
Modi emphasized that mutual trust is the foundation of any partnership—whether in business or diplomacy.
“The greatest strength of India–Russia relations is this trust. It guides our shared efforts and gives them momentum,” he said, noting that this sense of trust inspires both nations to aim higher.
Highlighting areas of collaboration, Modi said India is a global frontrunner in affordable and efficient electric vehicles, two-wheelers, and CNG mobility solutions, while Russia is a major producer of advanced materials. By working together in EV production, automotive components, and mobility technologies, both countries could not only meet domestic requirements but also support development across the Global South.
He added that India has a strong global presence in design, handicrafts, and carpets, while Russia is a key supplier of polymers and synthetic raw materials. Combining these strengths could create a resilient textile value chain, he said.
President Putin reaffirmed Russia’s commitment to strengthening its broad-based partnership with India and noted that Russian companies are ready to expand imports of various Indian goods and services.
