Russian President Vladimir Putin announced at the St Petersburg International Economic Forum (SPIEF) on June 20, 2025, that Moscow is advancing long-term economic cooperation plans with India, with an action plan for collaboration until 2030 nearing finalization. Speaking at the plenary session, Putin emphasized enhancing trade, removing barriers, exploring new markets, building infrastructure, and deepening investment ties, particularly in oil and gas exports. The SPIEF, themed “Shared Values: The Foundation of Growth in a Multipolar World,” highlighted India-Russia economic ties, with bilateral trade reaching USD 65.7 billion in FY 2023-24, a 33% year-on-year increase, and a target of USD 100 billion by 2030. India was represented by Union Minister Ashwini Vaishnaw, who underscored India’s advancements in AI and ethical technological growth, while discussions with Russian ministers and industry leaders focused on logistics, transportation, railway modernization, IT, and AI. A press release from the Indian Embassy in Moscow noted these engagements align with India’s Atmanirbhar Bharat vision and global digital transformation goals.