$100 bln Indo-Russia bilateral trade achievable by 2030, trade gap no worry: GTRI

July 18, 2024

India aims for $100 billion trade with Russia by 2030 via exports, local currency trading, and Eurasian FTA. FY24 trade reached $65.7 billion, with $4.3 billion exports and 88% oil imports; import surge 8300% and 59% export growth due to discounted oil. Export strategy and currency exchange are crucial. INSTC reduces costs. Ajay Srivastava notes US bans SWIFT.

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