India and Russia have agreed to collaborate on six new strategic investment projects as part of a broader effort to strengthen their economic partnership, according to a statement released Wednesday by the Indian Ministry of Commerce and Industry.
While the specific sectors and details of the projects were not disclosed, the two governments reaffirmed their shared commitment to enhancing bilateral investment cooperation. The agreement was reached during a meeting of the India-Russia Working Group on Priority Investment Projects, held under the umbrella of the Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
The new initiatives come amid global economic uncertainty and rising trade tensions, particularly following a series of tariff escalations introduced by U.S. President Donald Trump. Both New Delhi and Moscow have signaled their intent to forge stronger partnerships outside of traditional Western trade networks.
Last month, at a high-level conference in Moscow, Indian and Russian officials explored further ways to deepen their strategic cooperation. A key outcome of that engagement was the reaffirmation of a target to increase bilateral trade to $100 billion over the next five years, a goal first set during a July 2024 summit between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.
“Our trade turnover skyrocketed. We have achieved levels which we couldn’t have imagined before,” said Ivan Timofeev, Director-General of the Russian International Affairs Council. “Energy is one of the driving forces, along with the traditional spheres of our cooperation, such as nuclear energy and military-technical cooperation. Food security is also a very prospective field.”
India’s Foreign Minister S. Jaishankar emphasized the importance of broadening the economic relationship beyond its historical focus areas. “We are now moving into new terrain that reflects the evolving priorities of both countries,” he said, highlighting sectors such as pharmaceuticals, advanced technologies, agriculture, connectivity, and regional economic development.
