NEW DELHI — GTNS, SEPTEMBER 10, 2026 — India and Russia have stepped up discussions on expanding bilateral trade and investment cooperation as New Delhi prepares to host the 18th BRICS Summit.
A high-level meeting in the national capital with Denis Manturov, First Deputy Prime Minister of the Russian Federation, focused on issues of mutual interest and ways to further strengthen economic and commercial ties between the two countries.
The engagement comes at a strategically important moment, with Russian President Vladimir Putin due in New Delhi for the BRICS Leaders’ Summit on September 12–13.
ECONOMIC TIES TAKE CENTRE STAGE
Trade and investment are emerging as major pillars of the current India-Russia engagement. New Delhi and Moscow are seeking to broaden their economic relationship beyond traditional areas of cooperation and create new opportunities for businesses and investors.
India has set an ambitious objective of taking bilateral trade to $100 billion by 2030, alongside a target of $50 billion in two-way investment. Commerce and Industry Minister Piyush Goyal highlighted the targets at the INNOPROM India 2026 business programme in New Delhi on Thursday.
The two sides are also exploring opportunities in industrial manufacturing, critical minerals, technology and other emerging sectors. Manturov recently said Russia and India were examining potential cooperation in rare and rare-earth metals, including projects involving the Murmansk region.
BRICS CREATES A WIDER DIPLOMATIC PLATFORM
The timing of the discussions is significant as senior Indian and Russian officials intensify economic engagement ahead of the BRICS summit.
The summit is expected to bring together Prime Minister Narendra Modi, President Putin, Chinese President Xi Jinping and other leaders at a time of major geopolitical and economic uncertainty.
For India, deeper economic engagement with Russia is part of a broader strategy of maintaining diversified international partnerships while protecting its strategic autonomy.
For Moscow, India remains an important economic partner as Russia seeks to expand trade, investment and industrial cooperation amid a rapidly changing global economic environment.
FROM ENERGY TO INDUSTRIAL COOPERATION
India-Russia economic ties have traditionally included energy, fertilisers, defence and strategic industries. The current push is increasingly focused on expanding manufacturing, investment and technology partnerships.
Recent discussions have also highlighted connectivity, industrial cooperation and people-to-people ties as areas where the bilateral relationship can be strengthened.
With Putin’s arrival in New Delhi and the BRICS Summit approaching, the latest Manturov engagement underlines the economic dimension of a relationship that remains central to India’s wider foreign-policy strategy.
The immediate challenge for both countries will be to convert political goodwill and ambitious trade targets into concrete investment, manufacturing projects and stronger two-way commerce.