Moscow
Commerce Secretary Rajesh Agrawal held high-level discussions in Moscow with key Russian and Eurasian Economic Union (EAEU) leaders to advance the proposed India–EAEU Free Trade Agreement (FTA), the Commerce Ministry announced on Sunday. The meetings form part of ongoing efforts to deepen bilateral trade and expand India’s market access across Eurasian economies.
Agrawal met Andrey Slepnev, Minister in charge of Trade at the Eurasian Economic Commission, and Mikhail Yurin, Deputy Minister of Industry and Trade of the Russian Federation. He also addressed a business networking plenary attended by representatives from Indian and Russian industries, reiterating India’s commitment to strengthening a balanced and resilient trade partnership.
The discussions built on the outcomes of the India–Russia Working Group on Trade and Economic Cooperation, focusing on supply chain resilience, regulatory predictability, and diversification of trade. These efforts align with the leaders’ shared vision to achieve $100 billion in bilateral trade by 2030 while creating new opportunities for Indian exports through industrial and technological collaboration.
During the meeting with Minister Slepnev, both sides reviewed the next steps for the India–EAEU FTA in goods. The Terms of Reference signed on August 20, 2025, provide an 18-month roadmap to broaden market access for Indian MSMEs, farmers, and fishermen. As the process progresses, negotiations will also examine services and investment tracks.
In discussions with Deputy Minister Yurin, the Commerce Secretary explored avenues to expand trade diversification and cooperation in critical minerals. Key sectors identified for enhanced engagement include pharmaceuticals, telecom equipment, machinery, automobiles, chemicals, and leather.
Both sides also agreed to establish quarterly regulator-to-regulator engagements, aimed at easing market entry barriers and improving trade facilitation. The visit marks a crucial step in India’s strategy to deepen economic integration with the Eurasian region while supporting exporters through new and emerging trade corridors.
