Commerce Secretary Rajesh Agrawal conducted high-level meetings in Moscow to advance the India–Eurasian Economic Union Free Trade Agreement (FTA). Discussions focused on expanding bilateral trade, supply chain resilience, regulatory predictability, and sector-specific cooperation to reach $100 billion trade by 2030.
Commerce Secretary Rajesh Agrawal recently led a series of strategic discussions in Moscow to accelerate progress on the proposed India–Eurasian Economic Union (EAEU) Free Trade Agreement (FTA). His talks with key Russian trade and industry officials emphasized a roadmap for enhancing economic ties, aligning with leaders’ ambitions to boost bilateral trade to $100 billion by 2030.
Key Highlights:
Review of Next Steps: Agrawal reviewed the detailed 18-month work plan outlined in the Terms of Reference signed in August 2025, targeting wider market access for Indian goods including MSMEs, farmers, and fishermen.
Trade Diversification & Resilience: Both sides committed to diversifying trade channels and strengthening supply chains for critical sectors such as pharmaceuticals, telecom, machinery, leather, automobiles, and chemicals.
Regulatory Cooperation: Agreements were reached on quarterly regulator engagements to resolve certification, non-tariff barriers, and improve standards alignment, facilitating smoother business operations.
Industry Engagement: Agrawal addressed Indian and Russian industry leaders, highlighting India’s logistics infrastructure upgrades and digital public infrastructure as key enablers for investment and joint ventures.
Future Outlook: Discussions extended to services and investment tracks, aiming to expand cooperation beyond goods and create actionable contracts for long-term growth and employment generation.
This high-level engagement marks a vital phase in strengthening India-Eurasian economic collaboration, paving the way for enhanced trade, technological exchange, and strategic partnership.
Sources: Times of India, IANS, Ministry of Commerce and Industry, Government of India