India-Russia Adopt 2030 Economic Cooperation Plan to Boost Trade and Connectivity

India and Russia Finalise 2030 Economic Cooperation Programme to Deepen Strategic Trade Ties

India and Russia have unveiled a comprehensive 2030 Economic Cooperation Programme , signalling an upgraded phase in their long-standing partnership. Announced after high-level talks between Prime Minister Narendra Modi and Russian President Vladimir Putin in New Delhi, the roadmap aims to expand bilateral trade, enhance industrial collaboration, and strengthen connectivity frameworks that support long-term economic stability.

A Broad Roadmap for Diversified Growth

The new programme seeks to reduce over-reliance on traditional trade segments by encouraging wider sectoral integration and greater predictability for investors. Both leaders reaffirmed their intent to accelerate negotiations on a potential Free Trade Agreement with the Eurasian Economic Union, which could significantly expand market access for Indian exporters. The India–Russia Business Forum will play a central role in enabling joint production, technology-sharing, and innovation-led partnerships.

Energy, Connectivity and Global Supply Chain Corridors

Infrastructure connectivity emerged as a strong pillar of the cooperation plan. Flagship routes — including the International North-South Transport Corridor (INSTC) , the Northern Sea Route , and the Chennai–Vladivostok maritime corridor — are being prioritised to reshape trade logistics and reduce transit dependence on traditional routes. Russia reiterated its commitment to remain a steady supplier of oil, gas and coal , while civil nuclear cooperation continues through ongoing projects like Kudankulam .

Strategic Sectoral Collaboration and Financial Linkages

Shipbuilding has been identified as a key sector aligning with India’s Make in India goals and employment generation priorities. The two nations will also intensify cooperation in urea manufacturing , critical minerals , and industrial technology transfer . Russia highlighted increased reliance on the rouble for major project settlements, while both countries push toward national currency-based trade to minimise payment bottlenecks and currency conversion losses.

Exam Oriented Facts

• India and Russia adopted the 2030 Economic Cooperation Programme in December 2025 .

• Priority sectors: energy, shipbuilding, fertilisers, connectivity corridors .

• Bilateral trade reached USD 64 billion in the previous year.

• Discussions are underway on an India–Eurasian Economic Union FTA .

Cultural Warmth and Expansion of Diplomatic Access

Reaffirming people-to-people ties, PM Modi announced plans to open two new Indian consulates in Russia to enhance mobility and business services. President Putin welcomed new agreements to ease investment flows and reiterated Russia’s readiness to continue stable energy supplies. Both leaders emphasised that the 2030 roadmap will remove structural trade barriers and sustain high-growth engagement across strategic sectors.