India and Russia Target $100 Billion Trade by 2030 as NICDC Showcases Industrial Corridors at INNOPROM 2026
The National Industrial Corridor Development Corporation (NICDC), functioning under the Ministry of Commerce and Industry, participated in the inaugural INNOPROM India 2026 event held at Bharat Mandapam in New Delhi from September 9 to 11. The event served as a high-level trade platform designed to deepen economic cooperation, manufacturing partnerships, and technology transfers between India and Russia.
During the trade showcase, officials highlighted that India and Russia have established a bilateral trade target of approximately ₹9.45 lakh crore ($100 billion) by 2030. To support this target, the NICDC presented investment opportunities across 20 industrial smart cities spread across 13 Indian states, representing a combined investment potential of ₹5.35 lakh crore. These industrial nodes are structured to provide plug-and-play infrastructure, advanced logistics connectivity, and streamlined regulatory processes for international manufacturing investors.
The partnership focuses on key sectors including industrial technology, localized manufacturing, supply chain resilience, and cross-border trade mechanisms using national currencies. High-level interactions between Russian business delegations, technology providers, and Indian industrial authorities aimed to attract sustained foreign direct investment while expanding export channels for domestic enterprise.
