India–EAEU FTA Talks: Commerce Secretary Shri Rajesh Agrawal reviewed the progress of the India–Eurasian Economic Union (EAEU) Free Trade Agreement (FTA) negotiations during a series of high-level meetings in Moscow.
He held discussions with Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, Mikhail Yurin, Deputy Minister of Industry and Trade of Russia, and addressed a business plenary attended by leading Indian and Russian industry representatives.
The talks built on the outcomes of the India–Russia Working Group on Trade and Economic Cooperation, with a strong focus on diversifying trade, strengthening resilient supply chains, ensuring regulatory predictability, and promoting balanced growth. These efforts are aligned with the shared goal of achieving USD 100 billion in bilateral trade by 2030 and expanding India’s export footprint through industrial and technological partnerships.
During the meeting with Minister Slepnev, the Commerce Secretary assessed the next steps for the India–EAEU FTA in goods. The Terms of Reference signed on 20 August 2025 outline an 18-month work plan aimed at opening new market opportunities for Indian MSMEs, farmers and fishermen. Services and investment cooperation are also set to be explored as negotiations advance.
In his meeting with Deputy Minister Yurin, Shri Agrawal discussed boosting trade diversification, supply-chain resilience and collaboration in critical minerals. Both sides agreed on a time-bound roadmap across key sectors including pharmaceuticals, telecom equipment, machinery, leather, automobiles and chemicals.
They also finalized quarterly regulator-to-regulator engagement to resolve certification issues, agricultural and marine product listings, non-tariff challenges and monopolistic practices. Discussions covered improvements in logistics, payments and standards to enhance predictability and ease of doing business.
Addressing the India–Russia industry plenary, the Commerce Secretary urged companies to align their initiatives with the 2030 trade target. He highlighted India’s logistics infrastructure upgrades, digital public infrastructure and growing opportunities for co-investment and co-production in goods and services. Industry leaders emphasized broadening the export basket, de-risking supply chains and converting planned collaborations into actionable contracts that enhance trade value, create jobs and support long-term prosperity.
India aims to further deepen its economic partnership with Russia as it moves towards becoming a developed nation—Viksit Bharat—by 2047.
