Moscow | August 20, 2025| SKY LINK TIMES
External Affairs Minister S. Jaishankar has highlighted the sharp rise in India-Russia trade, which has grown more than five-fold in the last four years, jumping from USD 13 billion in 2021 to USD 68 billion in 2024-25.
Speaking at the 26th Session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC) in Moscow, Jaishankar welcomed the expansion but cautioned that the trade imbalance remains a pressing concern.
🔹 Trade Growth and Imbalance
“Our bilateral trade in goods has increased, as you have noted, more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024-25 and it continues to grow,” Jaishankar said.
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However, he stressed that the trade imbalance has widened drastically, from USD 6.6 billion in 2021 to USD 58.9 billion in 2024-25, nearly nine times higher. “We need to address that urgently,” he added.
🔹 Strategic Partnership
Jaishankar underscored that the talks were being held in a complex geopolitical environment but reaffirmed the strength of the Special and Privileged Strategic Partnership between the two nations.
“Our leaders remain closely and regularly engaged. They provide wise and practical guidance. They had two in-person meetings last year and are personally committed to further advancing our strategic partnership,” he said.
🔹 Next Steps
During his three-day visit to Russia, Jaishankar will also:
- Address the India-Russia Business Forum in Moscow
- Hold discussions with Russian Foreign Minister Sergey Lavrov to review the bilateral agenda
- Exchange views on key regional and global issues
The outcomes of the IRIGC-TEC are expected to feed into preparations for the upcoming Annual Summit between India and Russia later this year.
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