India is negotiating a Free Trade Agreement (FTA) with the Eurasian Economic Union to boost exports to Russia and other member countries. Speaking to a media agency in Kazan today, Indian Ambassador to Russia Vinay Kumar expressed confidence that India and Russia would achieve their bilateral trade target of 100 billion US dollars by 2030. Mr Kumar said bilateral trade between the two countries stood at 38 billion US dollars during the first six months of this year. He said India is working with Russian authorities to address standards-related issues and non-tariff barriers, particularly in the agricultural and marine products sectors.
These efforts aim to improve market access and enable more Indian companies to enter the Russian market. Mr Kumar made these remarks during the second edition of the India-Russia Business Forum, titled ‘Tatarstan Initiative: Mutual Efficiency’, held in Kazan.
