Jaishankar Visits Moscow to Boost Trade Before BRICS
India and Russia are once again working to reinforce a relationship that has weathered decades of global shifts. External Affairs Minister S. Jaishankar touched down in Moscow on August 23 for an official visit running through August 24, a trip designed to steady bilateral ties at a moment when both countries face mounting pressure from Western capitals.
The timing is no accident. With the BRICS Leaders' Summit approaching in New Delhi this September, this visit doubles as both a working session on economic issues and a diplomatic setup for a much larger gathering of world leaders in the months ahead.
A High-Level Economic Commission Reconvenes
At the center of the visit is the 27th Session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, known by its shorthand IRIGC-TEC. Jaishankar is co-chairing the session alongside Russian First Deputy Prime Minister Denis Manturov.
This commission exists specifically to take stock of where the two countries stand on economic, scientific, and cultural cooperation, and to identify where progress has stalled. Its return this year signals that both sides see value in institutionalized dialogue rather than relying solely on high-profile leader-to-leader meetings.
Security Talks With Foreign Minister Lavrov
Beyond the economic track, Jaishankar is also holding direct talks with Russian Foreign Minister Sergey Lavrov. Their discussions are expected to cover regional security matters, ongoing international conflicts, and coordination on multilateral platforms where both countries have a stake.
Pairing an economic commission with a separate foreign-minister-level dialogue suggests New Delhi wants this visit to cover more ground than trade figures alone. It reflects a broader attempt to keep political and strategic channels open even as the economic relationship gets its own dedicated attention.
The Trade Imbalance Problem
One of the most pressing items on the agenda is a trade relationship that, while large in total volume, remains lopsided. Bilateral trade between India and Russia has crossed $68 billion, a substantial figure by any measure. Yet India's own exports to Russia make up less than $5 billion of that total, revealing a significant gap between what each country sells to the other.
| Metric | Figure |
|---|---|
| Total bilateral trade | Over $68 billion |
| India's exports to Russia | Under $5 billion |
| Mutual trade target | $100 billion by 2030 |
Correcting this imbalance has been made a top priority in the talks. Both governments have set a mutual target of reaching $100 billion in bilateral trade by 2030, a goal that will require meaningfully narrowing the current gap rather than simply growing overall trade volume on Russia's terms.
Building Better Connectivity Corridors
Trade imbalances are only part of the equation — getting goods to move efficiently between the two countries is another major focus. Negotiations during the visit are exploring smoother logistical routes through the International North-South Transport Corridor, along with the Chennai-Vladivostok Maritime Corridor and Russia's Northern Sea Route.
These corridors matter because they represent alternative pathways for trade that reduce reliance on routes vulnerable to disruption or geopolitical friction elsewhere. Strengthening this connectivity infrastructure is widely seen as a practical step that would need to precede any real progress toward the $100 billion trade target.
Setting the Stage for BRICS and Beyond
This diplomatic push is widely viewed as groundwork for a bigger moment on the calendar: Russian President Vladimir Putin's anticipated visit to India next month for the 18th BRICS Summit, scheduled for September 12 and 13 in New Delhi. A productive bilateral visit now helps ensure that leader-level talks later have a stronger foundation to build on.
All of this is unfolding against a backdrop of compounding pressure from Washington. New Delhi is navigating US tariff threats and payment bottlenecks aimed at countries that continue buying Russian energy, making this visit as much about insulating India's economic options as it is about strengthening ties with Moscow directly.
The takeaway: Jaishankar's Moscow visit reflects India's attempt to balance a long-standing partnership with Russia against rising economic pressure from the West. With trade imbalances, new transport corridors, and an approaching BRICS summit all on the table, the coming weeks will show whether this diplomatic groundwork translates into tangible progress on either front.
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