Bilateral Trade Surges Four‑Fold as India and Russia Deepen Economic Ties

The latest figures released by the Economic Affairs Ministry show that bilateral merchandise trade between India and Russia has more than quadrupled since the 2021‑22 fiscal year, rising from roughly US$13 billion to an estimated US$60 billion for 2025‑26. The trade surplus in Russia’s favour has widened sharply, climbing from US$6.6 billion to over US$50 billion. Jaishankar acknowledged the rapid growth while warning that narrowing the imbalance remains a top priority for both governments. He urged the private sector to play a decisive role in balancing imports and exports, noting that policy frameworks can only create an enabling environment.