Overview
- Commerce Secretary Rajesh Agrawal met EAEU trade chief Andrey Slepnev and Russian Deputy Minister Mikhail Yurin in Moscow to review next steps on the proposed pact.
- The Terms of Reference signed on August 20 set an 18‑month roadmap for formal negotiations on goods, with services and investment to be examined as the process advances.
- Both sides agreed to quarterly regulator‑to‑regulator engagement to address certification, agricultural and marine listings, prevention of monopolistic practices, and other non‑tariff issues.
- Discussions covered trade diversification, supply‑chain resilience and critical minerals, with time‑bound pathways flagged for pharmaceuticals, telecom equipment, machinery, leather, automobiles and chemicals.
- The push aligns with leaders’ goal of $100 billion in India–Russia trade by 2030, with industry urged to convert proposals into contracts and leverage logistics, payments and standards improvements.