External Affairs Minister Dr. S. Jaishankar’s visit to Russia has underscored India’s strategic push to diversify trade and reinforce its long-standing partnership with Moscow. Arriving on August 19, Jaishankar engaged with leading Russian scholars and think-tank representatives, exchanging perspectives on global geopolitics and bilateral cooperation.
On August 20, he co-chaired the 26th session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC). Highlighting the surge in bilateral trade from USD 13 billion in 2021 to USD 68 billion in 2024–25, he cautioned against the nine-fold trade imbalance. He called for measurable targets, mid-term reviews, closer business forum coordination, and innovative methods to broaden cooperation.
At the India-Russia Business Forum, Jaishankar, alongside First Deputy Prime Minister Denis Manturov, stressed that investments, joint ventures, and deeper collaboration must anchor the strategic partnership on a sustainable economic foundation. In Guwahati, traders welcomed the development, noting that diversification towards Russia could open new opportunities for tea, handicrafts, and agro-products, reducing over-dependence on traditional markets and cushioning against global trade disruptions. With new U.S. tariffs reshaping global flows, Russian officials, including Chargé d’Affaires Roman Babushkin, signaled readiness to welcome Indian products, further cementing Russia’s role in India’s multipolar economic vision.
