India and Russia have formally signed an Economic Cooperation Agreement — the “Vision 2030” roadmap — during the 23rd India–Russia Annual Summit, aiming to significantly expand and diversify bilateral trade, investment and people-to-people ties over the next five years.
Under the new pact, both nations have committed to broadening trade beyond traditional energy and defence sectors, with an ambitious goal of lifting annual bilateral trade to USD 100 billion by 2030 (from a record USD 68.7 billion in FY 2024–25).
Prime Minister Narendra Modi, speaking after the agreement with Russian President Vladimir Putin, said that this strategic partnership — which began 25 years ago — will now “diversify trade and investment opportunities for both India and Russia,” fostering co-production, co-innovation and expanded collaboration through the new India–Russia Business Forum.
As part of efforts to deepen people-to-people engagement, India will soon implement a free 30-day e-tourist visa and a 30-day group tourist visa for Russian citizens — a move expected to boost mobility, tourism, cultural exchange and business travel between the two countries.
On the Ukraine conflict, PM Modi reiterated India’s long-standing stance: “We have always advocated for peace,” welcoming all efforts toward a “peaceful and lasting resolution,” and reaffirmed that India remains ready to play a constructive role toward global harmony.
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