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India Seeks Balanced Trade with Russia: 70,000 Workers, Diversified Exports on the Horizon
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Firstpost•05-10-2026, 10:27
India Seeks Balanced Trade with Russia: 70,000 Workers, Diversified Exports on the Horizon
- •Russia will open its labor market to approximately 70,000 skilled Indian workers this year, primarily in construction and logistics.
- •India aims to diversify its trade relationship with Russia, moving beyond oil dominance to increase exports in sectors like automobiles, pharmaceuticals, food, and engineering goods.
- •The current trade balance is heavily skewed, with Indian imports from Russia, largely petroleum, significantly outweighing Indian exports.
- •External Affairs Minister S Jaishankar confirmed Russia's agreement on Indian workers and a shared ambition to expand bilateral trade more equitably.
- •The push for diversified trade and worker mobility comes as India seeks to address its trade deficit and secure multiple energy sources, despite ongoing challenges with Indian nationals in the Russian military.
Key Questions Answered
India is looking to increase its exports to Russia across seven broad areas: automobiles and auto components, pharmaceuticals, food products, marine products, engineering goods, chemicals, and textiles to address the heavily skewed trade imbalance.
Russia is set to open its labor market to around 70,000 skilled Indian workers, particularly focusing on sectors like construction and logistics.
India and Russia have set an ambitious target to reach $100 billion in bilateral trade and $50 billion in two-way investment by the year 2030.
