India and Russia Target $100 Billion Bilateral Trade by 2030 as INNOPROM India 2026 Opens in New Delhi
The inaugural edition of INNOPROM India 2026 took place at Bharat Mandapam in New Delhi from September 9 to 11, 2026, marking a significant step forward in advancing the India–Russia Special and Privileged Strategic Partnership. Union Minister of Commerce and Industry Piyush Goyal and Russia's Minister of Industry and Trade Anton Alikhanov jointly inspected the pavilion of the National Industrial Corridor Development Corporation (NICDC), reviewing progress on strategic manufacturing and technology partnerships.
During the high-level trade deliberations, both nations affirmed a commitment to expand annual bilateral trade to ₹9.45 lakh crore (approximately $100 billion) by 2030. The discussions prioritized industrial technology transfer, localized manufacturing, supply chain integration, and cross-border logistics. NICDC showcased India's rapid industrial infrastructure buildup under the National Industrial Corridor Development Programme, highlighting 20 upcoming Industrial Smart Cities across 13 states. These smart industrial nodes represent an investment potential of ₹5.35 lakh crore ($63 billion) and are planned as plug-and-play ecosystems for foreign and domestic manufacturers. The three-day exhibition facilitated intensive business-to-business (B2B) networking between Russian corporate delegations, Indian industry leaders, and BRICS trade representatives.
