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Modi and Putin directed their governments to broaden bilateral cooperation after talks in New Delhi. The push links ambitious trade and investment targets with deeper skilled-labour collaboration.
Moscow,Oct 24, 2026 12:32 IST
Prime Minister Narendra Modi and Russian President Vladimir Putin have directed their governments to expand bilateral cooperation as the two countries work towards increasing trade to USD 100 billion by 2030, Indian Ambassador to Russia Vinay Kumar told the Press Trust of India.
The two leaders discussed the full range of bilateral relations on the sidelines of the BRICS summit in New Delhi on September 12 and 13, Kumar said in an interview with Russian news agency TASS published on Saturday.
“One of the concrete results of the cooperation was the joint participation of the leaders of our countries in the BRICS business summit, as well as a visit to the Innoprom-India exhibition — the first Russian industrial exhibition held in New Delhi,” Kumar told TASS.
He said the leaders had directed the relevant ministries and agencies to further develop cooperation, including in trade and commerce.
India and Russia continued to work towards increasing bilateral trade to USD 100 billion and two-way investment to USD 50 billion by 2030, Kumar said.
On labour cooperation, the ambassador said India aimed to provide Russia with the required number of skilled workers in line with its needs. Indians account for around 25 to 30 per cent of Russia's quota for foreign workers, he added.
Kumar said India, with a population of nearly 1.5 billion, was set to become a global centre for skilled personnel. The average age of India's workforce is 29 years, while workers account for about 69 per cent of the population, he said.
India trains specialists for its domestic market as well as for jobs overseas, Kumar said. New Delhi had proposed that Russia set up educational institutions in India or collaborate with existing Indian institutions to train workers required by Russian industries, he added.
India and Russia are therefore focusing on expanding trade, investment and labour cooperation, with their governments tasked with taking forward the decisions made by Modi and Putin.
With PTI Inputs
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