The Federation of Indian Export Organisations (FIEO) has welcomed the Joint Statement issued after the 23rd India–Russia Annual Summit, calling it a decisive step towards expanding trade, economic, technological, and connectivity partnerships.
FIEO President SC Ralhan described the roadmap as clear and ambitious, noting its strong emphasis on balanced and sustainable trade growth, industrial cooperation, and enhanced logistics systems.
Ralhan highlighted that the renewed commitment reflected India’s intention to unlock the full potential of its Special and Privileged Strategic Partnership with Russia. He said exporters were encouraged by the prioritisation of long-standing issues affecting trade flows.
Referring to Programme 2030, Ralhan described the reaffirmed goal of achieving USD 100 billion in bilateral trade by 2030 as a major milestone.
He emphasised that commitments to address tariff and non-tariff barriers, improve logistics links, streamline payment mechanisms, and strengthen insurance and reinsurance frameworks would be crucial for expanding India’s exports to Russia.
He added that as trade volumes increase, both countries must work towards diversifying the trade basket to ensure long-term sustainability and reduce overdependence on any single sector.
FIEO welcomed the Leaders’ push for expanded cooperation in advanced high-technology sectors, industrial clusters, joint ventures, and investment promotion.
Ralhan stated that the Summit outcomes open fresh opportunities for Indian exporters in engineering goods, pharmaceuticals, agro-products, textiles, gems and jewellery, and technology services.
He further noted that Russia’s growing demand for online consumer goods presents significant opportunities for Indian exporters in e-commerce-driven retail categories such as lifestyle products, wellness items, home décor, and value-added foods.
Strengthened Financial and Energy Cooperation
The Federation praised the agreement to boost settlements in national currencies, improve interoperability of financial messaging systems, and hold consultations on digital currency platforms.
Ralhan said that predictable payment mechanisms would ease transactions and reduce uncertainties for exporters, marking a transformative step towards stabilising bilateral trade flows.
He also welcomed the reaffirmed cooperation in energy, including oil and gas, petrochemicals, LNG and LPG infrastructure, and nuclear projects.
Stable energy ties, he noted, would indirectly benefit India’s export-oriented sectors by strengthening industrial competitiveness.
FIEO expressed support for efforts to strengthen transport corridors such as the International North–South Transport Corridor (INSTC), the Chennai–Vladivostok Maritime Corridor, and future cooperation along the Northern Sea Route.
Ralhan said improved connectivity would reduce logistics costs, enhance transit predictability, and open new gateways for Indian goods across Russia and Eurasia.
The Federation also welcomed deeper cooperation in the Russian Far East and Arctic, citing emerging opportunities in agriculture, minerals, manpower mobility, pharmaceuticals, maritime transport, and diamonds. He described the region as a high-potential frontier for Indian exporters and investors.
Ralhan expressed confidence that the Joint Statement offers a forward-looking, comprehensive cooperation agenda.
He affirmed that FIEO would work closely with the Government and industry to translate commitments into tangible outcomes, diversify India’s trade structure, and strengthen India’s presence in the Russian market, including fast-growing e-commerce export segments.
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