India-Russia ties: Putin’s visit sparks $100bln trade ambitions amidst global tensions

India and Russia are set to significantly boost trade and investment. A major business forum will be held in New Delhi, coinciding with President Putin’s visit. Both nations aim for $100 billion in bilateral trade by 2030. The focus will be on expanding Indian engineering and food product exports to Russia.

Elon Musk revealed on the People by WTF podcast that he attempted to convince President Trump against imposing tariffs, but his efforts were unsuccessful. Musk stated that the President clearly favored tariffs, and his attempts to change this perspective did not yield results.

Indian export businesses face growing climate risks. Sectors like aluminium and steel are vulnerable to international regulations. Climate inaction threatens profits and operations. Extreme weather events already impact India significantly. By 2030, 4.5 percent of India’s GDP is at risk. Climate challenges could cost India over 10 percent of national income by century’s end.

Global trade is cooling, according to the World Trade Organization. India’s exports are also falling, with major markets showing declines. This slowdown is linked to trade policy changes and rising domestic costs. The situation threatens to impact India’s economy as global demand weakens. Experts warn of further erosion of trade volumes in the coming year.

The central government’s recent integration of 29 laws into 4 streamlined Labour Codes, enabling an environment that promotes industrial efficiency while safeguarding workers’ interests, is expected to catalyse growth in India’s export sector.

IndiGo has announced new direct routes and added frequencies from the newly opened Navi Mumbai International Airport. Daily flights to Coimbatore and Chennai will start on December 29. Five weekly services to Vadodara will begin on December 30, and flights to North Goa will increase to five times a week from December 26.

India and Canada are set to resume talks on a Comprehensive Economic Partnership Agreement next week. This marks a significant step in improving bilateral ties after a period of strain. The proposed pact aims to boost trade and investment. India is actively pursuing trade agreements globally, with ongoing discussions with several countries and blocs.

India and the US are holding regular virtual trade talks, with Commerce Secretary Rajesh Agarwal expecting a deal by year-end as most issues are resolved. Discussions cover a trade deal and reciprocal tariffs, with India seeking concessions for labor-intensive sectors while the US demands them for industrial goods and agriculture.

Italy’s Ambassador to India, Antonio Enrico Bartoli, outlines how both countries are expanding cooperation through a new strategic plan covering trade, mobility, space, defence and culture, while rising investments and even cricket links signal a broader, more ambitious partnership.

India is actively pursuing trade agreements with 50 nations across 14 groups. Discussions are underway with Canada for a comprehensive economic partnership. Negotiations are also progressing with Oman, Bahrain, Qatar, and the entire Gulf Cooperation Council.