During his visit to Moscow, Indian Foreign Minister Subrahmanyam Jaishankar said India and Russia will work to boost annual trade by around 50% over the next five years to reach $100 billion, emphasizing the need to address trade bottlenecks and lower nontariff barriers to achieve this target, Bloomberg reported on Aug. 21. Jaishankar's statement echoed a previous trade target that India and Russia set during Indian Prime Minister Narendra Modi's visit to Moscow in July 2024.