An Indian delegation is expected to visit Russia towards the end of the month for talks on the proposed India-Eurasian Economic Union (EAEU) free trade agreement (FTA), according to two people aware of the matter.
The FTA discussions will focus on easing sanitary and phytosanitary measures and technical barriers to trade. The EAEU is a five-member economic bloc comprising Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia and was set up in 2015 to promote economic integration through a common market, removal of trade barriers and coordination of economic policies among member states.
“One of the major focus areas in our FTA discussions is how to ease SPS (sanitary and phytosanitary) measures and technical barriers to trade. In the Russian and Eurasian markets, these are significant issues. Until our exporters become comfortable in overcoming these barriers, exports will continue to face challenges. Even if we conclude an FTA or a trade deal, our exports are likely to encounter several barriers,” said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.
“Our effort should be to ease these measures so that exporters gain confidence that there is substantial benefit in pursuing a trade agreement with the Eurasian market,” said the second person.
Sanitary and phytosanitary measures are regulations used by countries to protect humans, animals, and plants from diseases, pests, or harmful contaminants in food and agricultural imports.
Queries emailed to India's ministry of commerce and industry and the embassy of the Russian Federation remained unanswered.
The India-EAEU free trade agreement process has gathered momentum in recent years. In August 2025, India and the EAEU signed the terms of reference to formally launch negotiations for a free trade agreement. Bilateral trade between India and Russia reached $69 billion in 2024, up 7% from 2023. The first round of negotiations was held in November last year.
The development gains significance as India is looking to diversify its export markets due to high tariffs imposed by the US. India and Russia aim to boost bilateral trade to $100 billion by 2030.
Bilateral trade between India and the Eurasian Economic Union remains heavily concentrated in Russia, which continues to account for an overwhelming majority of India's trade with the five-member bloc.
Recently, Russian president Vladimir Putin said that Moscow-based oil company Rosneft has invested approximately $25 billion in the Indian economy, including in refinery, port, a network of fuelling stations, and other facilities.
“We work closely with our Indian friends, and together we continue to achieve the positive outcomes we can see today,” according to the official website of the President of Russia.
“This cooperation also involves the exchange of technologies. Our diplomatic relations with India date back to 1947, and our relationship has always been special, built on trust and fraternity in every sense of the word. Over the decades of our partnership, we have become convinced that the Indian people are highly talented and well educated. They boast their own competence; their achievements in programming and other fields, including the one you mentioned, are recognised across the globe,” he said at the St. Petersburg International Economic Forum held during 3-6 June, according to the website.
The US-Iran conflict has disrupted oil flows through the Strait of Hormuz, tightening global supplies and pushing countries, including India, to raise fuel prices and take measures to manage the impact.
“Of course, Prime Minister Modi is currently compelled to introduce certain restrictions, urging people to limit the use of personal vehicles and avoid travel, particularly long-distance trips, amid the developments in the Strait of Hormuz and the broader situation in the Middle East. However, the Indian government bears no responsibility for these circumstances; it is the Indian economy that is experiencing the effects,” he said.
"In today’s environment, we strive to support one another, extend a helping hand when needed, and increase our supplies to the Indian market, as well as to Asia more broadly. We are already exchanging technological solutions, and we will continue to do so,” Putin added.