Indian Ambassador Vinay Kumar said on the sidelines of the second India‑Russia Business Forum in Kazan that trade between the two nations hit $38 billion in the first half of 2026.
The figure eclipses the $32.6 billion reported in 2025 and projects a 15‑percent rise, pushing the partnership toward the $100 billion goal set for 2030.
Russia remains the primary source of energy and fertilisers for India, while Indian exports now include a growing share of pharmaceuticals and services for Kazan’s expanding tech sector.
Indian workers now account for roughly 25 percent of the Kazan region’s foreign‑worker quota, up from 18 percent two years earlier, reflecting a surge in labour mobility.
The two countries are also diversifying cooperation into defence, information technology, agriculture, and education, with Tatarstan actively courting joint research initiatives.
The delegations plan to use the next India‑Russia Business Forum to cement market‑access agreements and lock in the $100 billion target, signalling a deepening economic alliance.