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Russia Supports India's ‘Make in India’ Goals, Including Joint Production and Technology Transfer: S Jaishankar

India-Russia bilateral goods trade increased over five-fold to $68 billion in 2024-25, with leaders addressing the growing trade imbalance and exploring new cooperation sectors.

  • On August 20, External Affairs Minister S. Jaishankar co-chaired the 26th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation in Moscow during his three-day visit from August 19 to 21, 2025.
  • Rising trade pushed the commission's agenda, with India-Russia bilateral goods trade surging to USD 68 billion in 2024-25 and the trade imbalance growing from USD 6.6 billion to USD 58.9 billion, which Jaishankar said needs urgent correction.
  • At the India-Russia Business Forum, External Affairs Minister S. Jaishankar urged industry leaders to deepen commercial ties and said he `Discussed India-Russia relations, contemporary world geopolitics and India's viewpoint`.
  • Officials said the agenda will push for systems immune to external pressures, reviewing agricultural, scientific-technical and infrastructure collaboration and scheduling high-level contacts.
  • Both sides described the meeting as a step toward deeper strategic and economic diversification, signalling efforts to expand cooperation into technology, pharmaceuticals, nuclear energy and cultural cooperation within a multipolar world order.
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aninews.in broke the news in India on Tuesday, August 19, 2025.
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