On the sidelines of SPIEF, the “Russia–India” Business Dialogue took place

The event brought together government officials, business leaders, and investment institutions from both countries. The session was moderated by Sergey Cheremin, Minister of the Moscow Government and Head of the Department for External Economic and International Relations. India is a strategic partner of Russia. Together, we are developing logistics, fostering high-tech industries, strengthening investment ties, and striving to build a sustainable financial infrastructure. Trade and economic cooperation between India and Russia continue to show steady growth. In 2024, bilateral trade reached a record high of USD 70.6 billion. Moscow has traditionally played a key role in developing external economic relations between Russia and India. In 2024, India ranked second in terms of foreign trade turnover with Moscow. In his speech, Sergey Cheremin stated:

“Last year, trade between Moscow and India exceeded USD 38 billion.”

The session covered a broad range of topics: development of investment partnerships, reducing trade imbalances, implementation of the North–South international transport corridor project, and new forms of interregional cooperation and collaboration in high-tech sectors.

Particular attention was given to the potential of reaching the target milestone of USD 100 billion in mutual trade, the creation of resilient logistics, joint digital and scientific projects, as well as cooperation in education, finance, and pharmaceuticals. The business dialogue confirmed a high level of mutual interest in expanding practical Russian–Indian cooperation.