Russia expects a significant increase in trade with India as the two countries look to deepen commercial ties and use the BRICS platform to expand economic cooperation, Olga Kulikova, Business Ambassador of Russia to India, said on Friday.

Speaking on the sidelines of the BRICS Business Forum in New Delhi, Kulikova pointed to the potential for stronger business engagement between the two countries. Her comments come as India hosts the 18th BRICS Summit, with trade, investment, supply-chain resilience and financial cooperation among the key economic themes under discussion.

Trade Growth Gains Importance

The expectation of higher trade comes amid efforts by India and Russia to broaden their economic relationship beyond traditional areas of cooperation.

Energy has remained a major component of bilateral commerce, while businesses on both sides have also been exploring opportunities in sectors including pharmaceuticals, agriculture, manufacturing, technology and engineering.

Kulikova's comments indicate that Russia sees further scope for Indian and Russian companies to increase their commercial presence in each other's markets.

BRICS Creates Wider Business Opportunities

The BRICS Business Forum provides companies from member countries with an opportunity to explore partnerships, investment and market access.

The grouping has expanded to 11 members and represents a substantial share of the global population and economy. Current discussions are also focusing on practical initiatives such as startup cooperation, logistics and supply-chain connectivity. (The Indian Express)

For Russia, closer engagement with India through BRICS offers another channel for expanding commercial links with one of the world's major emerging economies.

Focus on Easier Cross-Border Trade

Improving the ease of doing business between BRICS economies has emerged as an important part of the economic agenda.

External Affairs Minister S. Jaishankar has called for resilient supply chains, predictable business conditions and diversified trade relationships among BRICS members. (The Economic Times)

Commerce and Industry Minister Piyush Goyal has separately urged BRICS countries to strengthen payment-system connectivity and increase the use of local currencies in trade.

Taken together, these initiatives could reduce some of the practical difficulties businesses face when operating across different financial and regulatory systems.

India-Russia Economic Ties

India and Russia have maintained a long-standing economic partnership, with energy and defence-related trade traditionally forming important parts of the relationship.

The two countries have also been working to expand cooperation in other sectors as they seek to diversify bilateral commerce.

For Indian businesses, Russia represents a large market for products and services, while Russian companies see India as an important destination for investment and commercial partnerships.

The challenge will be converting political goodwill into sustained growth in non-energy trade and creating more opportunities for private-sector companies.

Local-Currency Payments in Focus

Payment mechanisms are another factor that could influence future trade.

India has been advocating greater use of national currencies and improved payment connectivity among BRICS economies. Such mechanisms could potentially make cross-border transactions more efficient while giving businesses alternatives to conventional settlement arrangements.

However, deeper payment integration would require coordination between financial institutions, regulators and payment networks in participating countries.

A Broader BRICS Economic Push

Kulikova's remarks come as BRICS seeks to translate its growing economic weight into more practical cooperation.

The New Delhi summit is taking place against a backdrop of trade tensions, geopolitical disruptions and uncertainty around global supply chains. The bloc's leaders are considering initiatives covering startups, logistics and supply-chain cooperation, reflecting an effort to make economic collaboration more tangible. (The Indian Express)

For India and Russia, stronger bilateral trade could become one of the most visible outcomes of that broader economic engagement.

What Comes Next for India-Russia Trade

The key question will be whether expectations of higher trade can translate into concrete agreements and increased business activity.

Greater market access, efficient payment systems, reliable logistics and diversification into new sectors could help expand the trade relationship.

Kulikova's projection of a significant rise in trade therefore comes at a time when both India and Russia are looking to make their economic partnership broader, more resilient and less dependent on a limited number of sectors.