June 8: An Indian delegation is set to travel to Russia later this month to continue negotiations on a proposed Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), signalling steady progress in India’s efforts to expand trade partnerships in key global markets.
The talks are expected to focus on reducing trade barriers and making it easier for Indian exporters to access markets in the region. A major part of the discussion will revolve around easing sanitary and phytosanitary (SPS) regulations and addressing technical barriers to trade—issues that often make it difficult for agricultural and food exports to move smoothly across borders.
The EAEU is a regional economic bloc that includes Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. It was formed to promote closer economic integration through shared trade rules and reduced internal barriers among member countries.
Officials familiar with the process say improving regulatory alignment will be crucial to helping exporters gain confidence in these markets and increase trade volumes.
The India–EAEU FTA process has been gathering momentum over the past year. Both sides signed the terms of reference in August 2025 to formally begin negotiations, followed by the first round of talks in November. The upcoming visit is expected to build on that foundation and push the discussions further.
Trade between India and Russia has already seen strong growth, reaching about $69 billion in 2024, an increase of 7% from the previous year. Both countries have set an ambitious target of $100 billion in bilateral trade by 2030.
India is also looking to diversify its export destinations as global trade conditions evolve, making agreements like this increasingly important for long-term economic strategy.
While Russia currently accounts for the bulk of India’s trade with the EAEU, a successful agreement could open doors for wider engagement with other member countries as well.
The discussions are being seen as part of India’s broader push to strengthen its global trade footprint and improve market access for domestic industries.