India’s textile industry is set to gain fresh momentum as New Delhi and Moscow move toward deeper economic cooperation aimed at expanding bilateral trade and diversifying export portfolios. Indian Commerce and Industry Minister Piyush Goyal said textiles represent one of the most promising sectors for export growth as Russia looks for reliable long-term suppliers.
Speaking at the India–Russia Business Forum in New Delhi on December 4, 2025, Goyal said textiles—alongside automobiles, electronics, heavy machinery and food products—offer major opportunities for Indian exporters in the Russian market. He underlined the resilience of the India–Russia strategic partnership, noting that the original bilateral trade target of $30 billion by 2025, set in 2014, has already been surpassed, with trade volumes reaching nearly $70 billion.
However, the minister cautioned that India’s share in Russia’s total imports still remains below 2 per cent, highlighting the need for a more balanced and diversified trade structure.
Textiles Positioned as Key Export Growth Driver
Russian Presidential aide Maxim Oreshkin said bilateral trade could cross $100 billion by 2030, driven by stronger Indian exports in textiles, consumer goods, food and agriculture, pharmaceuticals, telecom, electronics and industrial components. The business forum, held under the theme “Sell to Russia”, brought together policymakers and business leaders from both nations to identify new trade expansion pathways and reduce the current imbalance.
Goyal said India’s textile sector is well-positioned due to its competitive manufacturing base, skilled workforce and strong global reputation for quality. He also pointed to India’s expanding startup ecosystem, deep STEM talent pool, and improving logistics and compliance infrastructure as key contributors to export competitiveness.
India’s economic stability further strengthens its trade outlook. Goyal cited GDP growth of 7.8 per cent in Q1 and 8.2 per cent in Q2, inflation at just 0.25 per cent last month, and India’s long-term trajectory toward becoming a $30–35 trillion economy by 2047 as strong signals for investors and trade partners. He also said India’s young workforce could help Russia offset its projected shortage of three million professionals.
Both sides reaffirmed their commitment to reinforcing the ‘Special and Privileged Strategic Partnership’, with a shared vision to lift trade beyond $100 billion by 2030, boost Indian exports, widen cooperation in services and innovation, and translate stronger economic ties into long-term shared prosperity.
