Commerce Secretary Rajesh Agrawal reviewed the progress of India-Eurasian Economic Union (EAEU) Free Trade Agreement negotiations in a series of meetings in Moscow. During the meeting, Mr Agrawal met with the Minister in charge of Trade of the Eurasian Economic Commission, Andrey Slepnev, the Deputy Minister of Industry and Trade of the Russian Federation, Mikhail Yurin, and also addressed a business networking plenary with members of the Indian and Russian industry.

 

 

The two sides discussed the outcomes of the Working Group on Trade and Economic Cooperation, focusing on strengthening resilient supply chains, ensuring regulatory predictability and promoting balanced growth in the partnership. The Ministry of Commerce and Industry emphasised that these efforts are aimed at reaching bilateral trade of 100 billion US dollars by 2030 and to expand the country’s exports through industrial and technological collaboration.

 

 

The Ministry further said that the Commerce Secretary also noted ways to enhance trade diversification, supply-chain resilience and cooperation in critical minerals. Both sides discussed a time-bound pathway across key sectors such as pharmaceuticals, telecom equipment, machinery, leather, automobiles and chemicals. The dialogue also covered practical measures related to logistics, payments and standards to improve predictability and ease of doing business for firms in both countries.

 

 

Mr Agrawal further highlighted countries’ logistics upgrades, digital public infrastructure and opportunities for co-investment and co-production across goods and services. The discussions emphasized the need to broaden the export basket, de-risk supply chains and convert planned projects into actionable contracts that enhance value and volume, generating more jobs and long-term prosperity for people in both countries.