Commerce Secretary reviews India–EAEU FTA negotiations in Moscow

Talks focus on trade diversification, supply-chain resilience and 2030 target of USD 100 billion bilateral trade

New Delhi, Nov. 17: Commerce Secretary Rajesh Agrawal reviewed progress of the India–Eurasian Economic Union (EAEU) Free Trade Agreement negotiations during a series of engagements in Moscow. He held discussions with Andrey Slepnev, Minister in charge of trade at the Eurasian Economic Commission; Mikhail Yurin, Deputy Minister of Industry and Trade of the Russian Federation; and addressed a business networking plenary attended by Indian and Russian industry leaders.

The talks built on recent outcomes of the India–Russia Working Group on Trade and Economic Cooperation, with a continued emphasis on diversification, regulatory predictability and strengthening resilient supply chains. The discussions align with the leadership’s vision to scale bilateral trade to USD 100 billion by 2030 and expand opportunities for Indian exports through technological and industrial collaboration.

In the meeting with Slepnev, the Commerce Secretary reviewed next steps for the India–EAEU FTA in goods. The Terms of Reference signed on August 20, 2025, lay out an 18-month work plan aimed at widening market access for Indian businesses, including MSMEs, farmers and fishermen. As the process advances, services and investment tracks will also be explored in line with strategic guidance from both sides.

During discussions with Yurin, both sides examined ways to improve trade diversification, supply-chain resilience and cooperation in critical minerals. They agreed on a time-bound pathway across sectors such as pharmaceuticals, telecom equipment, machinery, leather, automobiles and chemicals. Quarterly regulator-level engagement was also agreed to streamline certification requirements, listings of agricultural and marine exporters, prevention of monopolistic practices and other non-tariff barriers. The talks additionally covered logistics, payments and standards to enhance predictability and ease of doing business.

At the industry plenary addressed by business leaders from India and Russia, the Commerce Secretary urged companies to align their investment and production strategies with the 2030 trade target. He highlighted India’s logistics upgrades, digital public infrastructure and openings for co-investment and co-production across goods and services. Discussions underscored the need to broaden the export basket, de-risk supply chains and convert pipeline projects into actionable contracts that expand value, generate jobs and support long-term shared prosperity.

India aims to deepen its economic engagement with Russia as part of its broader journey toward becoming a developed nation, Viksit Bharat, by 2047.