India–EAEU FTA Review: Commerce Secretary Sets $100 Billion Trade Target by 2030

India, Nov 17 : India’s Commerce Secretary Rajesh Agrawal has reviewed the ongoing negotiations for the proposed India–Eurasian Economic Union (EAEU) Free Trade Agreement (FTA) during a series of high level meetings with officials of the Eurasian Economic Commission in Moscow.

Agrawal held discussions with Andrey Slepnev, Minister in Charge of Trade of the Eurasian Economic Commission, and Mikhail Yurin, Russia’s Deputy Minister of Industry and Trade. He also addressed a business networking session attended by representatives from Indian and Russian industries.

These engagements align with the leadership level mandate to boost bilateral trade between India and the EAEU to USD 100 billion by 2030, with a strong push to expand Indian exports through industrial and technological partnerships.

Next steps on FTA negotiations discussed

During his meeting with Slepnev, Agrawal reviewed the progress and next steps for the proposed India–EAEU FTA in goods, the Commerce Ministry said.

The Terms of Reference signed on August 20, 2025, lay out an 18-month roadmap aimed at diversifying international markets for Indian enterprises, including MSMEs, farmers and fishermen. The scope of the FTA is expected to widen as negotiations advance, with work on services and investment tracks also under consideration.

Trade diversification, supply-chain resilience in focus

In the meeting with Deputy Minister Yurin, both sides examined ways to deepen cooperation in trade diversification, critical minerals, and supply-chain resilience.

They discussed a timem bound pathway across major sectors such as pharmaceuticals, telecom equipment, machinery, leather, automobiles and chemicals. The two sides also agreed to initiate quarterly regulator to regulator engagements to resolve issues related to certifications, business listings in agriculture and marine sectors, monopolistic practices and other non-tariff barriers.

Improving ease of doing business

Deliberations also touched upon strengthening logistics, payments frameworks and technical standards to give greater predictability and improve the ease of doing business for companies in both countries.

Addressing industry members, Agrawal highlighted India’s logistics upgrades, digital public infrastructure and opportunities for co-production and co-investment in goods and services. He stressed the need to broaden the export basket, de-risk supply chains and accelerate the conversion of planned joint projects into actionable contracts.

Agrawal urged companies to align their business strategies with the USD 100 billion trade target for 2030, emphasising that deeper economic engagement will create jobs and support long-term prosperity in both countries.