Overview
- Commerce Minister Piyush Goyal told the India–Russia Business Forum in New Delhi that Indian businesses should take a "leap of faith" to tap unmet Russian demand ahead of President Vladimir Putin’s arrival.
- He identified opportunities in automobiles, electronics, heavy machinery, industrial components, textiles and food products.
- Goyal said India produces about 2.4 million STEM graduates annually and argued they could help address Russia’s roughly 3 million talent shortfall.
- He pledged to work with Moscow to reduce trade barriers and make the bilateral trade basket more balanced and diverse.
- Reported figures show India’s goods trade deficit widening from $6.6 billion in 2021–22 to $58.9 billion in 2024–25, with about $33 billion recorded by October in 2025–26.