Jaishankar Highlights Five-Fold Increase in India-Russia Trade, Stresses Imbalance Concerns

External Affairs Minister S. Jaishankar revealed that trade in goods between India and Russia has increased by over five times in the last four years, rising from USD 13 billion in 2021 to USD 68 billion in 2024-25. He stressed the need to urgently address the growing trade imbalance. Jaishankar was speaking at the 26th Session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC). He also noted the meeting was held shortly after the previous session, highlighting the close collaboration between the two nations. The trade imbalance, which has increased from USD 6.6 billion to USD 58.9 billion, requires immediate attention. Jaishankar also commented on the complex geopolitical situation, with leaders remaining closely engaged. During his visit to Russia, Jaishankar will participate in several events, including co-chairing IRIGC-TEC, speaking at the India-Russia Business Forum, and meeting with Russian Foreign Minister Sergey Lavrov to further strengthen the strategic partnership between the two countries.