India looks to expand trade opportunities with Eurasian market

Business Economy

Posted by AI on 2025-08-20 14:06:43 | Last Updated by AI on 2025-08-20 16:21:22

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 0

---

With a recent spike in trade turnover, India is looking to expand its trade opportunities with the Eurasian market. The Ministry of Commerce and Industry released a statement noting a growing trade turnover of $69 billion between India and the Eurasian Economic Union (EAEU) in 2024, a 7% increase from the previous year.

The recent agreement between India and Russia, as part of the EAEU, the Terms of Reference, is a significant step towards strengthening economic cooperation. Both sides are eager to deepen their relationship and leverage exciting opportunities within the rapidly evolving market.

Russia's Ambassador to India, Naphtali Jacobovitz, praised the "phenomenal potential" in strengthening economic ties between the two countries, highlighting the abundance of opportunities in the Russian market, which remains relatively underutilized by Indian businesses.

This strategic partnership aims to foster a more dynamic and sustainable trade relationship, marking a new era of cooperation between India and the EAEU.

The agreement, which focuses on the exchange of trade and economic information, will ultimately assist in streamlining the diversification of both Indian and Eurasian trade portfolios.

The future looks bright for this burgeoning partnership, and with the recently signed Terms of Reference, India is well on its way to further expanding its trading interests and unlocking the massive potential of the Eurasian market.

Go!