India and Russia are preparing to increase mutual trade. Both the countries have set a target of increasing trade to $100 billion and investment to $50 billion by 2030. The need for Indian youth to work in Russia may also increase. Indian Ambassador to Russia Vinay Kumar has given this information.
Business Desk: India and Russia want to do more business with each other in the coming years. Both the countries have decided that efforts will be made to increase mutual trade to 100 billion dollars by 2030. Apart from this, work is also going on to increase investment. Indian Ambassador to Russia Vinay Kumar gave this information in an interview. He told that Russia needs trained people for different works. India can help meet this need.
What did Modi and Putin say about increasing trade?
Talking to Russian news agency TASS, Vinay Kumar said that there was a meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin in Delhi in September. Both the leaders had attended the BRICS summit held on 12 and 13 September. During this period, there were also discussions regarding relations between India and Russia.
Modi and Putin had asked officials of their respective countries to find new ways to work together in trade and other areas. Both the leaders also participated in the BRICS Business Summit. Apart from this, I also visited Innoprom-India, an exhibition of Russian industries held in Delhi.
How much business is being planned to increase by 2030?
At present the annual trade between India and Russia is said to be around 60 billion dollars. Both the countries want to take it to 100 billion dollars in the next four years. According to this, both will need to increase additional business of about 40 billion dollars. India is looking at the possibility of selling more medicines, auto parts, food items and machinery related products to Russia.
India buys large quantities of crude oil from Russia. Now the effort is that the business of both the countries is not limited to oil only. Along with this, a target has also been set to increase the investment between the two countries to 50 billion dollars by 2030.
Job opportunities may increase for Indian youth in Russia
Along with business, talks are also going on regarding Indians working in Russia. Russia needs such employees who are trained in their work. Ambassador Vinay Kumar said that India is ready to provide skilled workers to Russia as per the need. According to him, the share of Indians in the quota fixed for foreign employees in Russia is about 25 to 30 percent.
However, this does not mean that Russia has announced any new government recruitment for Indian youth. At present, there is talk of increasing cooperation between the two countries regarding workers and their training.
Russian companies can open training centers in India
India has also put forward a proposal to Russia. Under this, Russian companies can open their training centers in India. If they wish, they can also collaborate with the already running Indian training institutes to teach work to the youth. With this, Indian youth will be able to get training for those jobs which are needed in Russian factories and other companies.
Vinay Kumar told that the population of India is about 150 crores. The average age of working people here is 29 years. The share of people of working age is also said to be around 69 percent. He says that in the coming time, India can become a big country in providing trained employees to the world.
Why is India buying less oil from Russia?
India imports large quantities of crude oil from Russia, but its purchases have been decreasing in the last few months. According to Kpler data, in September 2026, India bought about 18.2 lakh barrels of oil every day from Russia. Earlier in June, 26 lakh barrels of oil were arriving daily. It decreased to 25.7 lakh barrels in July and 20.2 lakh barrels in August. Purchases further reduced in September. That means India imported about 29 percent less oil from Russia in September as compared to July.
China also buys a lot of oil from Russia. In September, it ordered about 14.9 lakh barrels of oil every day. However, in this case, India's purchase was more than China's. Market experts say that the reduction in oil supply from Russia and the increasing purchases by China have also affected India. For this reason, the quantity of oil coming from Russia has decreased in the last few months.