India and Russia look to boost bilateral trade by 50% by 2030

NEW DELHI -- India is looking to strengthen its economic ties with Russia even as its longtime ally faces Western sanctions over the Ukraine war. The two countries have set an ambitious bilateral trade target of $100 billion by 2030, up by 50% from the current $66 billion.

Prime Minister Narendra Modi visited Russia earlier this month -- his first trip there since the invasion of Ukraine in February 2022 -- for the two nations' annual summit, and their economic relationship dominated his discussions with President Vladimir Putin.