India and Russia have recorded bilateral trade worth $38 billion in the first six months of this year, putting them on course to achieve the $100-billion target by 2030, Indian Ambassador to Russia Vinay Kumar said on Thursday.Speaking to The Tribune on the sidelines of the India-Russia Business Forum in Kazan, Kumar said India was sourcing essential raw materials, particularly energy and fertilisers, from Russia while exporting pharmaceuticals and expanding opportunities for skilled Indian workers.“Our target is to achieve $100 billion in India-Russia bilateral trade by 2030. In the first six months of this year, we have already done bilateral trade of $38 billion. So, we think we are on the right path to achieve the target,” he said.Kumar said the rapidly growing Kazan region was creating demand for workers, with the number of Indians employed there rising sharply over the past two years.“This region is growing fast and requires workforce. In just the last two years, there has been a massive increase in the Indian workforce here,” he said.He added that, on average, Indians were being allocated around 25 per cent of the quota for foreign workers in the region.The expanding workforce mobility is emerging as another dimension of India-Russia economic cooperation, alongside trade in goods. Increasing Indian exports and widening market access remain important to broadening the partnership beyond energy imports.The second edition of the India-Russia Business Forum began in Kazan on Thursday, bringing together business representatives to explore trade and investment opportunities between the two countries.The forum comes amid efforts by India and Russia to deepen economic engagement across sectors, including energy, defence, information technology, agriculture and pharmaceuticals.Tatarstan, whose capital is Kazan, has also been promoting cooperation with India in education, science and technology.The two countries have maintained diplomatic relations for 78 years, with their partnership spanning economic, scientific, technological and cultural cooperation.The latest business engagement seeks to build on these longstanding ties by encouraging joint investment projects and expanding commercial links between Indian and Russian companies.


