Putin Says India-EAEU Trade Talks Intensify as FTA Negotiations Gather Pace

Russian President Vladimir Putin has said negotiations on trade liberalisation between India and the Eurasian Economic Union (EAEU) have intensified, signalling fresh momentum in efforts to conclude a proposed free trade agreement (FTA) between New Delhi and the Russia-led economic bloc.

Speaking at the Supreme Eurasian Economic Council meeting in Astana, Kazakhstan, Putin said the EAEU was steadily expanding its network of international trade partnerships. He noted that the bloc concluded trade agreements last year with Mongolia, the United Arab Emirates and Indonesia, while discussions on trade liberalisation with India had accelerated.

“We support the draft decisions on launching talks on free trade agreements with new promising partners,” Putin said, adding that all aspects of future cooperation would be carefully evaluated.

The EAEU , comprising Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia, was established in 2015 to promote economic integration through a common market, reduced trade barriers and coordinated economic policies among member states.

The India-EAEU FTA process has gathered pace over the past year. In August 2025, both sides signed the Terms of Reference formally launching negotiations under an 18-month roadmap aimed at expanding market access and boosting trade. At the time, officials noted that bilateral trade turnover between India and the EAEU had reached USD 69 billion , marking a seven per cent increase over the previous year.

The first round of negotiations was held from November 26 to 28, 2025. The next round of India-Russia-led EAEU trade negotiations is likely to be held in Moscow in June 2026, with discussions expected to focus on non-trade measures , regulatory issues and market-access barriers.

Indian officials have identified pharmaceuticals, chemicals, engineering goods, machinery, automobiles, agriculture and marine products as sectors that could benefit significantly from the proposed agreement. The roadmap is also intended to create new opportunities for MSMEs, farmers and fishermen while helping India diversify export destinations.