India and Russia Target $100 Billion Trade Milestone by 2030

Prime Minister Narendra Modi and President Vladimir Putin have held bilateral talks in New Delhi on the sidelines of the BRICS summit, centering on a strategic push to raise annual bilateral trade to $100 billion by 2030. The discussions focused on removing trade barriers for Indian exporters and expanding industrial cooperation, specifically in the steel value chain, rail infrastructure, and tunnelling projects. The $100 billion target requires a significant scale-up in non-energy trade to balance the current bilateral ledger. In defence, the focus has shifted toward technical upgrades and fulfillment of existing contracts. Kremlin spokesperson Dmitry Peskov confirmed that Moscow is committed to delivering the remaining S-400 missile systems. The two leaders also discussed upgrading the BrahMos missile system and the potential procurement of Su-57 fighter jets.