India-Russia have agreed on a new 2030 Economic Cooperation Programme to increase trade, investment, and industrial partnership. The decision was made after talks between Prime Minister Narendra Modi and President Vladimir Putin in New Delhi. The move reflects growing cooperation in energy, connectivity projects, defence-related manufacturing, and financial systems.

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A Long-Term Plan for Growth and Trade

India–Russia 2030 Economic Plan aims to expand trade into more sectors and give investors more confidence. Both countries also discussed fast-tracking a possible Free Trade Agreement to improve market access. India confirmed that it will continue participating in the India–Russia Business Forum, which supports joint manufacturing and technology-based projects.

Focus on Energy and Key Transport Corridors

Major infrastructure projects are an important part of the plan. These include the:

International North-South Transport Corridor
Northern Sea Route
Chennai–Vladivostok maritime link

These routes are expected to reshape supply chains and trade routes. Russia confirmed that it will continue supplying oil, gas, and coal to India. Civil nuclear cooperation will also continue, especially through the Kudankulam nuclear project.

India-Russia Strengthening Industries and Financial Systems

Shipbuilding has been chosen as a key sector because it supports India’s manufacturing and job goals. Both countries will also work together on urea production and cooperation on critical minerals. Russia mentioned that the use of the rouble is increasing in large projects, and both sides are working towards using national currencies to make trade smoother and faster.

Key Points

The India–Russia 2030 Economic Cooperation Programme was adopted in December 2025.
Main focus areas: energy, shipbuilding, fertilisers, and transport corridors.
Bilateral trade reached around USD 64 billion last year.
Negotiations continue on an India–Eurasian Economic Union FTA.

India-Russia 2030 Economic Plan for Strong Diplomatic Relations

Prime Minister Modi highlighted cultural ties and announced that India will open two new consulates in Russia to help travellers, businesses, and students. President Putin spoke about new agreements that will make investment easier and confirmed Russia’s commitment to continue supplying energy. Both leaders said that the India–Russia 2030 Economic Plan will guide future cooperation, remove trade barriers, and strengthen economic relations.