India among Russia's top foreign trade partners: PM Mishustin

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Russian President Vladimir Putin, right, and Russian Prime Minister Mikhail Mishustin arrive to attend a cabinet meeting in Moscow. | Photo Credit: AP

India was among Russia's top foreign trade partners as Moscow redirected its energy flows to friendly countries, Russian Prime Minister Mikhail Mishustin said on Tuesday (January 20, 2026).

Putin calls India reliable partner, hits out at Western interference

The share of friendly countries in Russia's trade turnover has reached a historic high of 86%, with particular growth in trade with China, Belarus, India, and Kazakhstan, Mr. Mishustin said.

In the financial year 2024–25, total India-Russia trade reached an all-time high of about $68.7 billion, up sharply from roughly $13 billion in 2021, marking nearly a five - to six- fold increase over four years.

Both countries have set ambitious targets to lift bilateral trade toward $100 billion by 2030, reflecting deepening economic ties beyond energy, including sectors such as pharmaceuticals, defence, and technology.

“By 2025, the benchmark for deliveries to friendly countries has already been exceeded — a new historical record of 86 per cent can be reached. China, Belarus, India and Kazakhstan demonstrated significant growth," Mr. Mishustin said in his televised remarks at a strategic session on the development of foreign economic activity.

Russia has redirected a significant portion of energy supplies to friendly countries, but certain segments in this sphere do not boast high flexibility and they require longer-term and costly efforts to redirect flows. “Nevertheless, despite unprecedented external pressure [Western sanctions], Russia has demonstrated a high level of efficiency in adaptation to sanctions. A sizable portion of energy resource flows was directed to friendly countries,” Mr. Mishustin said.

The share of the so-called “backbone” countries in this sphere has doubled over the last three years, to 80% in the first half of 2025, he noted.

"The weight of different co