Russia-India Trade Corridor Achieves Record $65 Billion Annual Volume

Bilateral Trade Expansion

Trade between Russia and India has reached a record $65 billion in annual volume, driven by energy exports, technology partnerships, and expanded settlement mechanisms in national currencies.

Key Sectors

• Energy: Crude oil and LNG exports remain the dominant category
• Technology: Joint ventures in IT services and semiconductor design
• Agriculture: Growing Russian grain and fertilizer exports
• Pharmaceuticals: Mutual recognition agreements boosting trade

Settlement Innovation

Over 60% of bilateral trade is now settled in rubles and rupees, bypassing traditional dollar-denominated channels. The National Payment Card System (NSPK) integration with India's UPI is expected to further facilitate cross-border transactions.