India, Russia Agree To Continue Bilateral Investment Treaty Negotiations

Union Finance and Corporate Affairs Minister Nirmala Sitharaman met Russian First Deputy Prime Minister Denis Manturov in New Delhi on Friday to advance discussions on a Bilateral Investment Treaty (BIT).

The meeting focused on strengthening economic relations and identifying fresh avenues for cooperation as India and Russia work to expand bilateral trade and investment.

The Ministry of Finance said both countries had agreed to continue BIT negotiations.

The proposed treaty aims to create a mutually beneficial framework that can encourage greater investment between the two nations.

The two leaders examined the current state of bilateral economic relations and considered measures to widen cooperation across sectors. Their discussions covered opportunities in financial services, which could help facilitate increasing commercial activity and support stronger investment links between Indian and Russian businesses.

The engagement reflects efforts by both governments to give greater momentum to their economic partnership.

Union Minister for Finance & Corporate Affairs Smt. @nsitharaman met H.E. Mr. Denis Manturov, First Deputy Prime Minister of the Russian Federation, in New Delhi, today.

Both sides held discussions on ways to further strengthen and deepen economic cooperation between the two… pic.twitter.com/KtVYszxSKh

— Ministry of Finance (@FinMinIndia) September 11, 2026

Commerce and Industry Minister Piyush Goyal earlier identified pharmaceuticals, engineering goods, chemicals, textiles and food products as important sectors for expanding bilateral commerce.

Speaking at the India-Russia Business Dialogue, Goyal said the leadership of both countries had set an ambitious goal of increasing bilateral trade to $100 billion and two-way investments to $50 billion by 2030.

India and Russia currently conduct trade worth around $60 billion, requiring an additional $40 billion to meet the 2030 target.

Goyal said governments and businesses would need to maintain double-digit annual growth and coordinate their efforts to achieve the objective. He further highlighted considerable untapped potential for Indian exports.

Pharmaceuticals and engineering products, in which Indian companies have strong global capabilities, remain among Russia’s major import categories but have yet to realise their full potential in the Russian market.

The latest Sitharaman-Manturov talks underline the growing priority both countries place on investment, trade and financial cooperation.